Question
HACK has been incorporated under the name HACK Ltd.HACK has issued a total of 100 shares. Herb, Ana, Conrad, and Kim each own 25 shares
HACK has been incorporated under the name HACK Ltd.HACK has issued a total of 100 shares. Herb, Ana, Conrad, and Kim each own 25 shares in HACK, and all of them are also directors of HACK. HACK expanded andbought $100,000 worth of equipment from Trucks, Inc. It made a cashpayment of $20,000, but HACK still owed $80,000 to trucks. HACK'sbusiness has collapsed and it is unable to pay Trucks.
What share of this debt will Her, Ana, Conrad, and Kim each bear? Explainfully.
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International Business Law and Its Environment
Authors: Richard Schaffer, Filiberto Agusti, Lucien J. Dhooge
9th edition
1285427041, 978-1285427041
