ACC 480 CHAPTER 40 – Flashcards

Like other corporations, Beauty Supplies Corporation can extend its operations through

Jen files a suit against Kopper Kettle Company. While the suit is pending, Kopper Kettle merges with Luminous Pans, Inc., with Luminous absorbing Kopper Kettle. Now, liability in the suit, if any, rests with

Cherry Grove Apartments, Inc., merges with Dutch Elm Realty, Inc. Only Dutch Elm remains. Refer to Fact Pattern 40-1A. Cherry Grove owed money to Eager Beaver Repair Service and other creditors. After the merger, Dutch Elm must pay

Cherry Grove Apartments, Inc., merges with Dutch Elm Realty, Inc. Only Dutch Elm remains. Refer to Fact Pattern 40-1A. Cherry Grove held rights in certain real property. After the merger, Dutch Elm acquires the rights

Cherry Grove Apartments, Inc., merges with Dutch Elm Realty, Inc. Only Dutch Elm remains. Refer to Fact Pattern 40-1A. The terms of the merger agreement differ from Dutch Elm's articles of incorporation. The articles

Steel Tool Corporation and Thrifty Hardware Company combine so that all that remains after the papers have been signed is Steel Tool. This is

Petro Corporation combines its assets and debts with those of Quality Refining Company to form Royal Oil, Inc. Refer to Fact Pattern 40-2A. The formation of Royal Oil is

Petro Corporation combines its assets and debts with those of Quality Refining Company to form Royal Oil, Inc. Refer to Fact Pattern 40-2A. Royal Oil acquires

Petro Corporation combines its assets and debts with those of Quality Refining Company to form Royal Oil, Inc. Refer to Fact Pattern 40-2A. Royal Oil assumes

Vacation Destination, Inc., and Wonder Resort Corporation plan to merge. Most likely, the articles of merger will be filed with

Through a certain transaction, Corporate Properties, Inc., acquires all of the shares of Downtown Realty Corporation for some of Corporate Properties's shares. Both Corporate Properties and Downtown Realty continue to exist. This is

Precise Device Corporation and Quality Instruments, Inc., decide to merge. This corporate combination does not require the approval of

Vision Optical Company and Wide Eyes Open, Inc. decide to combine. Xavier, a Wide Eyes shareholder, is dissatisfied with the price that he will receive for his stock. In the absence of fraud or other illegal conduct, Xavier's exclusive remedy is to

Firelite Corporation wants to purchase all of the assets of Glo Power Products, Inc. Hadji is an Firelite shareholder. The approval of Hadji and other Firelite shareholders is necessary

Ewa is a shareholder of Fresh Produce, Inc., whose management is con- sidering a tender offer by Green Grocery Stores Corporation. Eve elects to exercise her appraisal rights. In some jurisdictions, now Eve can

Unified Industries, Inc., increases its holdings, making tender offers i n many states. These offers are subject to

The term for the legal death of the artificial "person" of Equity Investments, Inc., or any other corporation, is

Standard Business Corporation can be compelled to dissolve by

Atlantic Corporation's articles of incorporation prohibit a sale of its assets without a vote of the board of directors. Atlantic's officers sell some assets to Pacific Company without notice to the board. The officers also fail to pay Atlantic's taxes on time, and some Atlantic funds are not accounted for. Refer to Fact Pattern 40-3A. The appropriate remedy is most likely

Atlantic Corporation's articles of incorporation prohibit a sale of its assets without a vote of the board of directors. Atlantic's officers sell some assets to Pacific Company without notice to the board. The officers also fail to pay Atlantic's taxes on time, and some Atlantic funds are not accounted for. Refer to Fact Pattern 40-3A. With respect to Atlantic's shareholders, this conduct is most likely