Bul 5810 corporations - Study guides, Class notes & Summaries

BUL 5810 – CORPORATIONS TEST QUESTIONS WITH CERTIFIED ANSWERS Wyatt, the sole stockholder of International Travel Corporation, wrongfully used the corporation to avoid a personal liability. A court's disregarding the corporate entity and holding Wyatt personally liable is called: - Answer-piercing the corporate veil Claire opened Claire's Beauty Parlor in her home. She solicited funds to begin the business from Jack, who believed that the business was incorporated. Claire had, in fact, ...

BUL 5810 – CORPORATIONS Exam Questions With Correct Answers Which of the following is NOT a characteristic of the corporate form of doing business? - answerInformal organization All of the following are characteristics of a corporation EXCEPT: a. it has perpetual existence. b. it is a legal entity of its own. c. it is able to be sued and to sue. d. it is usually managed by its owners. - answerIt is usually managed by its owners A corporation is considered a citizen: - answerof the sta...

BUL 5810 MIDTERM EXAM TEST QUESTIONS WITH UPDATED AND REVISED ANSWERS Brown vs. Board of Education (1954) - Answer-Supreme Court declared it unconstitutional for states to make laws separating public schools for black and white students Marbury vs. Madison - Answer-Established judicial review - the power of the federal courts to declare legislative and executive acts unconstitutional FOIA (Freedom of Information Act) of 1966 - Answer-Requires federal agencies to release files to the publi...

BUL 5810 – CORPORATIONS EXAM QUESTIONS WITH DETAILED ANSWERS __________, usually called debentures, have only the obligation of the corporation behind them. - Answer-Unsecured bonds /.A corporation is considered a citizen: - Answer-of the state in both (1) where it has a principal office (2) its incorporation /.A corporation's proportional distribution of additional shares of the corporation's capital stock to its shareholders is a: - Answer-stock or share dividend /.A promot...

©THEBRIGHTSTARS 2024 BUL 5810 Study Guide Questions With Correct Answers A corporation may not be a partner in a partnership. - answerfalse Under the common law, a partnership is generally considered to be a legal entity rather than an aggregate of individuals. - answerFalse Partners may elect to have the partnership not be a separate taxable entity, so that only the partners are taxed. - answerTrue A general partnership may be formed for a charitable purpose. - answerFalse Tori and Ma...

BUL 5810 Midterm Exam Questions With Correct Answers Supreme Law of the Land - answerThe Constitution Sources of Federal Law - answerUS/state constitutions, federal/state statutes, common law, case law, and administrative law Expansion of Administrative Rules and Regulations - answerLegislative Rules: substantive rules issued by an administrative agency under the authority delegated to it by the legislature Interpretative Rules: statements issued by an administrative agency indicating how...