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2.5 pts Which of the following scenarios describes a corporation's articles of incorporation that are adequately flexible - so that they do not have to
2.5 pts Which of the following scenarios describes a corporation's articles of incorporation that are adequately flexible - so that they do not have to be amended or refiled? Simply Science Inc. is a budding corporation that currently has one class of common stock. The board wishes to split its classes of shares into common stock A and common stock B. Its articles of incorporation only authorize one share of common stock, however. O Apricot Corp. had a very successful first year in business and is now seeking further funding for new projects. Its articles of incorporation authorize 10,000 shares to be issued and outstanding. At this time, the company had 10,000 shares issued in the market. OA new company just incorporated in Delaware under the name "Oleander Inc." The founders experience great setbacks and are acquired by a larger company that wishes to change the company's name. The A new company just incorporated in Delaware under the name "Oleander Inc." The founders experience great setbacks and are acquired by a larger company that wishes to change the company's name. The articles of incorporation for Opal explicitly prohibits a name change. The common stock of Mariel Corp. affords holders a one vote per share. The company is seeking to alter its common stockholders' voting rights. The articles of incorporation designate only one vote per share of common stock held. U-Neek Inc. has operated for many years with seven directors on its board. The company has just received funding from a large venture fund that is seeking a seat on the board. The articles of incorporation for the company authorize up to nine board directors. In Florida, Nelson represents Clancy in a personal injury (torts) case. The case is settled for $565,000 before the defendant files an answer to the complaint. Nelson and Clancy had a contingency fee arrangement, which stated that if the case settled before an answer was filed then Nelson was entitled to 40% of the recovery. Is this fee arrangement permissible (lawful and ethical)? O No, because if the settlement occurs before an answer is filed and is less than $1,000,000 then the attorney is only entitled to up to 30% of the settlement. O Yes, because Clancy agreed to the fee arrangement. O No, because a contingency fee is not allowed for torts cases. O Yes, because if the settlement occurs before an answer is filed and is more than $500,000 then the attorney is entitled to up to 40% of the settlement. No, because the maximum to which Nelson would be entitled to in this situation is 33.33%
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