Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Amanda is an extreme sports enthusiast. She owns and operates her own skydiving company called Big Blue Skies. The business is incorporated and she is

Amanda is an extreme sports enthusiast. She owns and operates her own skydiving company called "Big Blue Skies." The business is incorporated and she is the majority shareholder. The company operates on the outskirts of five different cities and grosses over $3,000,000 in annual sales. The corporation is purchasing key person insurance on one of its employees.
How would the corporation sign the insurance application?
Amanda should write "BIG BLUE SKIES" in block letters, and beneath that she should record the company's corporation number.
Amanda should sign her name and indicate "authorized signing officer" beneath it.
Amanda should handwrite "Big Blue Skies" on the signature line.
A corporation can only enter into a contract by affixing its corporate seal on it.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Financial Accounting

Authors: Theodore E. Christensen, David M. Cottrell, Cassy JH Budd

11th edition

78025877, 978-0078025877

More Books

Students also viewed these Accounting questions

Question

1 When and how is group coaching beneficial?

Answered: 1 week ago