Author Question: Courts will enforce contracts for the benefit of all but which of the following? A) Donee ... (Read 97 times)

mynx

  • Hero Member
  • *****
  • Posts: 555
Courts will enforce contracts for the benefit of all but which of the following?
 A) Donee beneficiaries
  B) Creditor beneficiaries
  C) Incidental beneficiaries
  D) Intended beneficiaries

Question 2

What are the two major issues regarding payment for shares?



aadams68

  • Sr. Member
  • ****
  • Posts: 317
Answer to Question 1

C

Answer to Question 2

Two major issues arise regarding payment for shares. First, what type of consideration may the corporation validly accept in payment for the shares and, second, who shall determine the value to be placed upon the consideration the corporation receives in payment for shares.The RMBCA greatly liberalized the rules for type of consideration by specifically validating for the issuance of shares consideration consisting of any tangible or intangible property or benefit to the corporation, including cash, services performed, contracts for future services, and promissory notes. Determining the value to be placed on the consideration that stock purchasers will exchange for shares is the responsibility of the directors.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

Asthma cases in Americans are about 75% higher today than they were in 1980.

For a complete list of videos, visit our video library