Hello , I need help with an assignment.

Fill in the Blanks Using the Words Below

1.John-Boy Walton decides to incorporate his warehouse store business in Michigan. To do so he must file ______________ with the State.

2.Although he'll lose some control, John-boy understands he must sell ______________ and let other people own part of the business. Still, if he retains the ______________ of stock, he'll keep control.

3.One great thing about the new corporation, Walmart, Inc., John-Boy thinks, is that it will be his legacy because it will have ______________existence.

4.Johnny Cochran, John-Boy's lawyer, drafts the corporate ______________establishing the structure of the business.

5.John-Boy sells ______________to his siblings, {Jason, Mary-Ellen, Erin, Benjamin, Jim-Bob, and Elizabeth} so that they can vote, and ______________ to his parents {John Sr. and Olivia} will be the first in line to receive ______________.

6.Unfortunately, because Walkmart, Inc. is a ______________, profits will be taxed twice: once to the corporation and then again when distributed to shareholders.

7.John-Boy decides to expand the business and purchase a publishing company. Johnny Cochran recommends he issue ______________, so that the number of shareholders are limited, but John-Boy doesn't want to incur more ______________.

8.Because there was a ______________ at the ______________, the shareholders formally voted that Johnny Cochran would sit on the Board of Directors with John-Boy, John Sr. and Olivia.

9.At their ______________, the Board appoints John-Boy President. They also decide not to declare a dividend because there are not enough ______________.

10. As President, John-Boy is an ______________with ______________ and ______________to enter into contracts.

11.John-Boy incorporates the publishing house using Walmart money and its employees to help with the legwork. When Erin finds out, she accuses him of violating his ______________.

12. John-Boy defends himself by claiming he made a rational, informed decision and is therefore protected by the ______________.

13. Erin sues John-Boy on behalf of the corporation in a ______________lawsuit, alleging he acted ______________.

Articles of IncorporationBusiness Judgment RuleImplied Power

debtultra-vires Retained Earnings

preferred stockdividendstaxable entity

bondsfiduciary dutyDerivative

Annual Meeting of ShareholdersAnnual Meeting of Directors

shares of stockmajoritycommon stock

Express Powersbylawsquorumperpetual