This topic contains a solution. Click here to go to the answer

Author Question: Mr. Ace of Oink Inc., a closely held corporation, is one of three shareholders. After several years ... (Read 200 times)

mpobi80

  • Hero Member
  • *****
  • Posts: 519
Mr. Ace of Oink Inc., a closely held corporation, is one of three shareholders. After several years of considerable success, the corporation hit hard times. The other shareholders, Mr. Bane and Mr. Curr, in the best interests of the corporation, voted Mr. Ace out as a director and voted not to renew his employment contract. Upset by these events, Mr. Ace wanted to sell his interest and leave the corporation. The other two shareholders, however, refused to buy his shares. Furthermore, when Mr. Ace attempted to sell his shares to his brother, who was interested in the corporation, the other shareholders refused to register the brother as a member. Which of the following is true?
◦ Mr. Ace could have avoided such a dilemma through the provisions of a shareholders' agreement.
◦ Mr. Ace could sell his shares to whomever he chose and the remaining shareholders must register the new owner.
◦ The court would "lift the corporate veil" because Mr. Bane and Mr. Curr were hiding behind the corporation to commit a fraud.
◦ Because of statutory pre-emptive right provisions, if Ace wants out, the other shareholders must buy him out.
◦ Mr. Ace could sue the corporation for breach of its fiduciary duty.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by mpobi80 on Aug 7, 2021

Meganchabluk

  • Sr. Member
  • ****
  • Posts: 301
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 64% of students answer this correctly




mpobi80

  • Member
  • Posts: 519
Reply 2 on: Aug 7, 2021
Wow, this really help


bblaney

  • Member
  • Posts: 323
Reply 3 on: Yesterday
Excellent

 

Did you know?

Medication errors are three times higher among children and infants than with adults.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

For a complete list of videos, visit our video library