due to ight at 1159pm Business Structures

Discussion Questions Use the MBCA or this text to answer the following questions. 1. Hawkins Construction Co, has decided to dissolve. a. Briefly describe the approval process for the corporate directors and shareholders to accomplish the dissolution. b. Once the corporation has filed articles of dissolution, may it continue engaging in the business of construction? Discuss. c. Who will conduct liquidation of the corporation? Why? d. Assume that articles of dissolution were filed and became effective on May 1. May the corporation revoke its decision to dissolve if it files articles of revocation of dissolution on October 1? Discuss. 2. Watson Inc. has eight directors. Those directors have not been able to conduct corporate business for approximately ten months because the directors are deadlocked. a. Marcy, a shareholder, would like to dissolve the corporation. May she take action? Discuss. b. Assume that Josh, another shareholder, would like the corporation to continue doing business. Is there any action Josh can take? Discuss. c. If the corporation is dissolved, who will liquidate it? Why? 3. Edwards Design Inc., a corporation with ten shareholders, voluntarily dissolved, and the directors have been winding up the corporation. The corpora- tion has $50,000 in assets and owes $45,000 to its creditors. How will this money be distributed? 4. Quincy Air Inc. was administratively dissolved on January 4, 2018, for failure to pay state taxes, On February 4, 2018, the corporation provided air charter services to Kyle Sanchez. On March 4, 2018, the corporation was rein- stated. Sanchez has alleged that he need not pay for the services rendered to him by the corporation because no corporation existed on the date the services were provided to him. Is Sanchez likely to prevail? Discuss