A proxy is a document giving one party the authority to act for another party, including the power to vote shares of common stock. Proxies can be important tools relating to control of firms.
Answer the following statement true (T) or false (F)
True
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An obligor may delegate his or her duties to perform under a contract when the:? A) performance of the duty is standardized and nonpersonal
B) obligor is unable to perform his or her duties. C) contract is silent as to the right of assignment. D) obligor is an expert in his or her specialized duties under the contract.
If a 16-year-old buys a car, uses it for six months, then decides to disaffirm the contract to buy the car on a three- year payment plan, the contract is voidable
a. True b. False Indicate whether the statement is true or false
Which of the following is an example of product advertising?
A. a classified ad to recruit new employees B. an ad sponsored by Avon promoting breast cancer prevention C. a video on Youtube explaining British Petroleum's efforts to help habitat in the Gulf of Mexico D. a television ad about the Ronald McDonald House's efforts to help the families of sick children E. an ad on Facebook advertising a two-for-one sale on fish tacos at Ralph Rubio's Mexican restaurant
Identify which of the following statements is true.
A) A liquidating distribution of property other than a disqualified property that is made ratably to all shareholders (based on their stockholdings) will permit the recognition of loss on the portion of the distribution that is made to a related person. B) A subsidiary corporation can recognize losses on distributions to either the parent corporation or minority shareholders in a Sec. 332 liquidation. C) Section 336 prevents recognition of a loss when making a pro rata distribution of property to a related person. D) All of the above are false.