Question
Bob and Shirley attempted to form a corporation for the restaurant Bob & Shirley's. Bob and Shirley inadvertently failed to file the articles of incorporation.
Bob and Shirley attempted to form a corporation for the restaurant Bob & Shirley's. Bob and Shirley inadvertently failed to file the articles of incorporation. Can they still be treated as a corporation? If yes, how and in which situations?
If I am not mistaken, this would still be considered a corporation under intent, correct? If not, please elaborate in as much detail as possible. Roughly 10 or more sentences.
Sally and Burt enter an agreement in which Sally agrees to purchase Burt's house. Burt owes Lisa a large amount of money, and in the agreement, Sally agrees to pay the money for the house directly to Lisa. What rights, if any, does Lisa possess under this contract? Why does she possess these rights?
Now I believe this would fall under the law of allowing creditors to transfer their debts. The legal ability to transfer the debt of a creditor to a third party. As a result, the third party becomes the rightful owner of the account and has the ability to enforce the debt.
IF I AM WRONG ON EITHER OF THESE, PLEASE elaborate and explain in as much detail as possible. Thanks! :)
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