I need help on my Business Law HW?

Posted on 2014-04-14 07:41:00 in Management by TASHA

In a majority of states, any agreement between shareholders of a ‘closely held corporation’ to restrict the transfer of the corporation’s stock - is considered illegal and unenforceable.

a. true

b. false

6. The RMBCA permits a corporate shareholder to initiate an action for dissolution of the corporation under which of the following circumstances?

a. when corporate assets are being misapplied or wasted

b. when the directors are deadlocked in the management of corporate affairs, the shareholders are unable to break the deadlock, and the corporation is suffering irreparable injury as a result (or is about to incur same)

c. when the directors have committed acts that are illegal, oppressive, or fraudulent

d. when the shareholders are deadlocked in voting power and have failed, for a specified period (usually two annual meetings), to elect successors to directors whose terms have expired or would have expired with the election of successors

e. only a and b above

f. only a , b and c above

g. only b and d above

h. any or all of the above

7. If no fixed duration or date of termination of a partnership is stated, but it is instead to last only until a specific project is completed, it would be best characterized as a

a. a “partnership at will”

b. a partnership “for an undetermined term”

c. a partnership “ala project’“

d. a joint venture

e. a short-duration partnership

f. a “defacto” partnership

(please let me know your credibility)

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