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A dividend is a right given by a company to buy stock at a stated price by a specified date.

An agreement between shareholders can restrict the transfer of a close corporation’s stock.

Bay City Merchants Corporation has six shareholders, four of whom are members of the same family. All of Bay City’s shareholders agree in writing to operate without shareholders’ meetings. Under the Revised Model Business Corporation Act, this most likely warrants

A limited liability company can be held liable for any loss or injury caused by the wrongful acts or omissions of its members in the course of business.

Dissociation normally entitles the partner to buy his or her interest from the partnership.

A dividend is a right given by a company to buy stock at a stated price by a specified date.

A joint venture is taxed like a corporation.

Directors can delegate work to corporate officers and employees.

An agreement between shareholders can restrict the transfer of a close corporation’s stock.

A limited liability company can be held liable for any loss or injury caused by the wrongful acts or omissions of its members in the course of business.