Author Question: Zeron Corporation stock may be summarized as follows: 100,000 authorized 90,000 issued 75,000 ... (Read 67 times)

renzo156 · **on:** Jun 24, 2018

Zeron Corporation stock may be summarized as follows: 100,000 authorized 90,000 issued 75,000 outstanding 15,000 treasury stock How many shares or proxies will have to be present for a quorum (assuming no special provision and that the Revised Act is not in effect)?
A) 45,001
B) 37,501
C) 52,501
D) 50,001

Question 2

Meg has contracted to paint a portrait of Julio, but dies before completing the portrait. Which of the following is correct?
A) Meg's executor must find a capable artist to complete the work to Julio's satisfaction.
B) Meg's contractual duty is discharged due to objective impossibility.
C) A novation must be entered between Julio and a third person in order to discharge Meg's duty under the contract.
D) Meg's contractual duty is discharged due to subjective impossibility.