Question 1

Terminating a corporation is a three-step process: dissolution,winding up,and termination.

Accepted Answer

A) True 
 B)False

Question 2

Sara decided to incorporate her business under the name Gomo,Inc.Before Gomo was incorporated,Sara signed a contract in the name of Gomo,Inc.to lease a store front.Sara did not tell the other party that Gomo was not yet formed.Sara is personally liable on the lease.

Accepted Answer

A) True 
 B)False

Question 3

What are some of the advantages for a business to incorporate in Delaware?

Accepted Answer

Delaware offers corporations several adv

Question 4

Why do so many corporations incorporate in Delaware?

Accepted Answer

A)  Delaware has laws that favor Management. 
B)  Delaware has an efficient court system with courts that on serve businesses. 
C)  It have a lot of precedent making the outcome of litigation more predictable. 
D)  All of these answers are true. 
A)  Delaware has laws that favor Management. 
B)  Delaware has an efficient court system with courts that on serve businesses. 
C)  It have a lot of precedent making the outcome of litigation more predictable. 
D)  All of these answers are true.

Question 5

MegaCorp is incorporated in the state of Delaware and is registered only in Delaware.Jolene purchased a MegaCorp product from a company's sales representative following a presentation in Michigan.Jolene was seriously injured by the product in Michigan.Under the Model Act,if Jolene sues in Michigan,can MegaCorp defend the suit there?

Accepted Answer

A)  MegaCorp may only defend against a lawsuit in Michigan if it first registers by paying back fees,taxes,and penalties. 
B)  Yes,MegaCorp can bring or defend against a lawsuit in any state regardless of whether the corporation is registered to business in that state. 
C)  Yes,MegaCorp can defend against a lawsuit in Michigan regardless of whether MegaCorp is registered to do business in that state. 
D)  No.Jolene must sue and MegaCorp may defend a lawsuit only in Delaware. 
A)  MegaCorp may only defend against a lawsuit in Michigan if it first registers by paying back fees,taxes,and penalties. 
B)  Yes,MegaCorp can bring or defend against a lawsuit in any state regardless of whether the corporation is registered to business in that state. 
C)  Yes,MegaCorp can defend against a lawsuit in Michigan regardless of whether MegaCorp is registered to do business in that state. 
D)  No.Jolene must sue and MegaCorp may defend a lawsuit only in Delaware.

Terminating a corporation is a three-step process: dissolution,winding up,and termination.

Sara decided to incorporate her business under the name Gomo,Inc.Before Gomo was incorporated,Sara signed a contract in the name of Gomo,Inc.to lease a store front.Sara did not tell the other party that Gomo was not yet formed.Sara is personally liable on the lease.

What are some of the advantages for a business to incorporate in Delaware?

Why do so many corporations incorporate in Delaware?

Introduction to Law

Business Ethics and Social Responsibility

Courts,Litigation and Alterntive Dispute Resolution

Constitutional, Statutory, Administrative, and Common Law

Intentional Torts and Business Torts

Negligence and Strict Liability

Crime

International Law

Introduction to Contracts

Contract Impediments

Conclusion to Contracts

Practical Contracts

Introduction to Sales

Negotiable Instruments

Secured Transactions

Bankruptcy

Agency Law

Employment Law

Employment Discrimination

Labor Law

Starting a Business: Llcs and Other Option

Government Regulation: Securities and Antitrust

Accountants' Liability

Consumer Law

Environmental Law

Cyberlaw

Intellectual Property

Real Property and Tenant: Landlord Law

Personal Property and Bailment

Estate Planning

Insurance

Filters

Exam 22: Life and Death of a Corporation

Terminating a corporation is a three-step process: dissolution,winding up,and termination.

Sara decided to incorporate her business under the name Gomo,Inc.Before Gomo was incorporated,Sara signed a contract in the name of Gomo,Inc.to lease a store front.Sara did not tell the other party that Gomo was not yet formed.Sara is personally liable on the lease.

What are some of the advantages for a business to incorporate in Delaware?

Why do so many corporations incorporate in Delaware?

Introduction to Law

Business Ethics and Social Responsibility

Courts,Litigation and Alterntive Dispute Resolution

Constitutional, Statutory, Administrative, and Common Law

Intentional Torts and Business Torts

Negligence and Strict Liability

Crime

International Law

Introduction to Contracts

Contract Impediments

Conclusion to Contracts

Practical Contracts

Introduction to Sales

Negotiable Instruments

Secured Transactions

Bankruptcy

Agency Law

Employment Law

Employment Discrimination

Labor Law

Starting a Business: Llcs and Other Option

Government Regulation: Securities and Antitrust

Accountants' Liability

Consumer Law

Environmental Law

Cyberlaw

Intellectual Property

Real Property and Tenant: Landlord Law

Personal Property and Bailment

Estate Planning

Insurance

Filters