Q: Ronald Nadler was a resident of Maryland and the chief executive officer
Ronald Nadler was a resident of Maryland and the chief executive officer of Glenmar Cinestate, Inc., a Maryland corporation, as well as its principal stockholder. Glenmar leased certain space in the W...
See AnswerQ: Todd and Elaine purchased for $300,000 a building that
Todd and Elaine purchased for $300,000 a building that was used for manufacturing pianos. Then, as promoters, they formed a new corporation and resold the building to the new corporation for $500,000...
See AnswerQ: Wayne signed a subscription agreement for one hundred shares of stock of
Wayne signed a subscription agreement for one hundred shares of stock of the proposed ABC Company, at a price of $18.00 per share. Two weeks later, the company was incorporated in a state that has ado...
See AnswerQ: Julian, Cornelia, and Sheila petitioned for a corporate charter for
Julian, Cornelia, and Sheila petitioned for a corporate charter for the purpose of conducting a retail shoe business. They complied with all the statutory provisions except having their charter record...
See AnswerQ: Arthur, Barbara, Carl, and Debra decided to form a
Arthur, Barbara, Carl, and Debra decided to form a corporation for bottling and selling apple cider. Arthur, Barbara, and Carl were to operate the business, while Debra was to supply the necessary cap...
See AnswerQ: Amalgamated Corporation, organized under the laws of State S, sends
Amalgamated Corporation, organized under the laws of State S, sends several traveling salespersons into State M to solicit orders, which are accepted only at the home office of Amalgamated Corporation...
See AnswerQ: Olympic National Agencies was organized with an authorized capitalization of preferred stock
Olympic National Agencies was organized with an authorized capitalization of preferred stock and common stock. The articles of incorporation provided for a 7 percent annual dividend for the preferred...
See AnswerQ: Wood, the receiver of Stanton Oil Company, sued Stanton’s shareholders
Wood, the receiver of Stanton Oil Company, sued Stanton’s shareholders to recover dividends paid to them for three years, claiming that at the time these dividends were declared, Stanton was in fact i...
See AnswerQ: International Distributing Export Company (IDE) was organized as a corporation
International Distributing Export Company (IDE) was organized as a corporation on September 7, 2008, under the laws of New York and commenced business on November 1, 2008. IDE formerly had existed as...
See AnswerQ: Henry and Mary entered into a written contract whereby Henry agreed to
Henry and Mary entered into a written contract whereby Henry agreed to sell and Mary agreed to buy a certain automobile for $8,500. Henry drove the car to Mary’s residence and properly parked it on th...
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