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

Author Question: Mr. Ace of Oink Inc., a closely held corporation, is one of three shareholders. After several years ... (Read 148 times)

mpobi80

  • Hero Member
  • *****
  • Posts: 519
on: Aug 7, 2021
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.
Legal Fundamentals for Canadian Business ¦ Yates ¦ 4th Edition
Buy Test-Bank


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
Reply #1 on: Aug 7, 2021
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
Excellent

rachel

  • Member
  • Posts: 323
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Did you know?

Street names for barbiturates include reds, red devils, yellow jackets, blue heavens, Christmas trees, and rainbows. They are commonly referred to as downers.

Did you know?

Multiple experimental evidences have confirmed that at the molecular level, cancer is caused by lesions in cellular DNA.

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

The recent mass upheavals in Tunisia, Egypt, Libya, Yemen, and Syria gave political scientists a cha The recent mass upheavals in Tunisia, Egypt, Libya, Yemen, and Syria gave political scientists a cha
On March 25, 1911, as scores of young factory girls leaped to their deaths from the eighth, ninth, a On March 25, 1911, as scores of young factory girls leaped to their deaths from the eighth, ninth, a
Review Cognitive Changes over the Adult Years Review Cognitive Changes over the Adult Years
Mount Pinatubo caused ~1˚C cooling for up to 5 years Mount Pinatubo caused ~1˚C cooling for up to 5 years
Charlie Stone wants to retire in 30 years, and he wants to have an annuity of $1000 a year for ... Charlie Stone wants to retire in 30 years, and he wants to have an annuity of $1000 a year for ...
Jamal plans to retire in 17 years. He is saving $2000 every start of the month in a retirement ... Jamal plans to retire in 17 years. He is saving $2000 every start of the month in a retirement ...
Video: Types of synapses - electrical & chemical

For a complete list of videos, visit our video library