Moe, Larry, and Carl form a corporation, Stooges Ltd. They are the only shareholders. They die together in a plane crash
David Addison, a creditor of Stooges Ltd., brings an action against the corporation, but does not obtain judgment until after the three shareholders die. He is advised by his lawyer that Stooges Ltd. is now insolvent. Which of the following is true?
A) Addison may enforce his judgment against the estates of Moe, Larry, and Carl, or any of them.
B) Addison may bring a fresh action against estates of Moe, Larry, and Carl, or any of them.
C) Addison is stuck with his worthless judgment against the corporation.
D) Stooges Ltd. ceased to exist upon the death of its only shareholders.
E) Both A and D
C
You might also like to view...
The Theory of Constraints method is also referred to as the drum-buffer-rope method
Indicate whether the statement is true or false
Xerox Corp manufactured parts for copy machines in the U.S. that were shipped to Mexico for assembly. The copiers were designed to be sold to Latin America and did not operate on U.S. electric current. The copiers after assembly were kept in U.S. customs warehouses pending sale to Latin America. These goods were free of import duty by federal law. The city of Houston, Texas, assessed these
copiers with a local property tax. Xerox sued to have this tax declared unconstitutional. The court decided: I. That Xerox must pay all this tax because state/local governments have taxing powers just like the U.S. II. That Xerox must pay only one-half since state/local governments are one-half partners with the federal government. III. That this law is preempted by federal law. A) I only. B) II only. C) III only. D) Both I and III.
Answer the following statement(s) true (T) or false (F)
1. s2 is a sample statistic. 2. The variance is the squared average distance between all scores in a variable and their mean. 3. ? is the symbol for the variance. 4. The average distance between all scores in a variable and their mean is the standard deviation. 5. s is the symbol for the standard deviation.
What advantages do pure digital news sites have over print newspapers? What advantages do print newspapers have compared to online news sites?
What will be an ideal response?