Author: Anonymous

In corporate law, acts of a corporation that are beyond its express or implied powers are de facto acts.

In some states, a shareholder who receives watered stock may be liable to creditors of the corporation for unpaid corporate debts.

​Sean is the incorporator of Twisty’s Pretzels Corporation. Ross is a shareholder, Phyllis is a director, and Velma is an officer. The day-to-day operations of Twisty’s are overseen by

Any individual director can act as an agent to bind the corporation.

Bee Hive Honey, LLC’s members include Charlie and Donna. For purposes of suing and being sued, Bee Hive Honey is

In corporate law, acts of a corporation that are beyond its express or implied powers are de facto acts.

​Sean is the incorporator of Twisty’s Pretzels Corporation. Ross is a shareholder, Phyllis is a director, and Velma is an officer. The day-to-day operations of Twisty’s are overseen by

When lending capital to a small business, a bank may require a personal guaranty of its repayment from the owner.

Cliff is a member of Dental Clinic, LLC. Cliff can participate in the firm’s management to

A partnership is a pass-through entity and a taxpaying entity.