Although Mackenzie has paid her annual insurance premium, her insurance company sends her a written notification that it is cancelling her policy, which should have had four more months of coverage. The insurer need do nothing more to effect the cancellation
Indicate whether the statement is true or false
False
You might also like to view...
Credit card companies must now give a 45-day notice of any rate hike.
Answer the following statement true (T) or false (F)
Six years ago, HOPCO granted Mrs. Sing an incentive stock option (ISO) to purchase 1,000 shares of HOPCO stock for $55 per share. On date of grant, the market price was $50 per share. This year, Mrs. Sing exercised the ISO when the market price was $64 per share. How much ordinary income does she recognize because of the exercise?
A. $5,000 B. $9,000 C. $14,000 D. $0
All administrative agencies: A) are at the federal level
B) promulgate regulations. C) are created by the U.S. President. D) are under sunset laws.
Limited Liability Companies. Gloria Duchin, a Rhode Island resident, was the sole shareholder and chief executive officer of Gloria Duchin, Inc (Duchin, Inc), which manufactured metallic Christmas ornaments and other novelty items. The firm was
incorporated in Rhode Island. Duchin Realty, Inc, also incorporated in Rhode Island, leased real estate to Duchin, Inc The Duchin entities hired Gottesman Co to sell Duchin, Inc, and to sign with the buyer a consulting agreement for Gloria Duchin and a lease for Duchin Realty's property. Gottesman negotiated a sale, a consulting agreement, and a lease with Somerset Capital Corp James Mitchell, a resident of Massachusetts, was the chairman and president of Somerset, and Mary Mitchell, also a resident of Massachusetts, was the senior vice president. The parties agreed that to buy Duchin, Inc, Somerset would create a new limited liability company, JMTR Enterprises, L.L.C., in Rhode Island, with the Mitchells as its members. When the deal fell apart, JMTR filed a suit in a Massachusetts state court against the Duchin entities, alleging, among other things, breach of contract. When the defendants tried to remove the case to a federal district court, JMTR argued that the court did not have jurisdiction because there was no diversity of citizenship between the parties: all of the plaintiffs and defendants were citizens of Rhode Island. Is JMTR correct? Why or why not?