1. As a rule, a corporation that purchases the assets of another will not be liable for the debts of the selling corporation, provided the former acted in good faith and paid adequate consideration for such assets. State the exceptions to this rule?
2. State the steps to accomplish a merger or consolidation.
3. What are the effects of Merger or Consolidation?
4. When is the Right of Appraisal may be exercised?
5. As a rule a dissenting stockholder who demands payment of his shares is no longer allowed to withdraw from his decision. State the exceptions if there's any?
6. Enumerate corporations that cannot incorporate as a close corporation?
7. What are the characteristics of a close corporation?
8. Discuss the different modes of dissolution?
9. State the different grounds for the revocation of license of a foreign corporation.
10. Define the following:

• Merger
• Consolidation
• Appraisal Right
• Non-stock corporation
• One Person Corporation