This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Brokers are only required to disclose direct profits they might make from an offer to the seller. ... (Read 54 times)

fasfsadfdsfa

  • Hero Member
  • *****
  • Posts: 554
on: Jun 24, 2018
Brokers are only required to disclose direct profits they might make from an offer to the seller.
  Indicate whether the statement is true or false

Question 2

The Toy Corporation issued 200 shares of stock with no par value. The articles of incorporation provided that the board of directors had the right to fix the value of the stock. Through subscription agreements between the directors and two subscribers, 101 shares were issued to Maria Perez for 5,000, and 99 shares were issued to Ken Pilar for 15,000. Toy is now insolvent and is unable to pay the 6,000 it owes to Pine, its major supplier. Pine has brought suit against Perez, claiming that the subscription agreement was invalid. How will the case be decided?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

fauacakatahaias

  • Sr. Member
  • ****
  • Posts: 353
Reply #1 on: Jun 24, 2018
Answer to Question 1

FALSE

Answer to Question 2

Judgment will be for Perez. The subscription agreement was not invalid as to the creditors of the corporation. As provided in the articles of incorporation, the directors had the right to fix the consideration for the sale of the no-par stock. If the shares had been par-value shares for which Perez had not fully paid, she might have been liable for the unpaid balance.


fasfsadfdsfa

  • Member
  • Posts: 554
Reply 2 on: Jun 24, 2018
Wow, this really help

sailorcrescent

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Each year, the leaders of the world’s eight most powerful nations meet in a secluded place to make ... Each year, the leaders of the world’s eight most powerful nations meet in a secluded place to make ...
Typical wiring diagram of a V-6 distributorless (direct fire) ignition system. Typical wiring diagram of a V-6 distributorless (direct fire) ignition system.
Flow cytometry. Cells expressing the surface markers CD4, CD8, and CD3 are labeled in a direct ... Flow cytometry. Cells expressing the surface markers CD4, CD8, and CD3 are labeled in a direct ...
Thumb petrissage and direct fingertip pressure along iliac crest to muscle attachments. Thumb petrissage and direct fingertip pressure along iliac crest to muscle attachments.
The direct product of phosphate hydrolysis from PEP is the enol form of pyruvate The direct product of phosphate hydrolysis from PEP is the enol form of pyruvate
Common Systems for Direct DNA Repair Common Systems for Direct DNA Repair
Video: Interspecific Competition Relationship - Competitive & Niche Differentiation

For a complete list of videos, visit our video library