Author: Anonymous

Joint venturers do not have the authority as agents to enter into contracts for the business that will bind the joint venture.

For shareholders to act during a shareholders’ meeting, a quorum must be present.

A de jure corporation is one that is formed for a single purpose.

Most states do not allow directors to participate in board of directors’ meetings from remote locations.

Nina is a director of Outback Outfitters, Inc. Under the standard of due care owed by directors of a corporation, Nina’s decisions must be informed and

In a general partnership, the senior partner manages the partnership.

Cathy buys an exclusive territory in which she is authorized to set up a plant to make Delite Dairy products. After receiving the recipes, Cathy begins making Evie’s-brand yogurt and other Delite products. This is

In a sole proprietorship, the proprietor shares the burden of any losses or liabilities incurred by the business enterprise with the government.

Jim is considering forms of business organization, including the limited liability company (LLC), for his business—Kettle Popt-Korn. Most states require that an LLC have ​

Beth and Curt form Day-to-Day Care, Inc. Ultimate responsibility for policy decisions necessary to the management of corporate affairs rests with Day-to-Day’s