Question
I'm in chapter 9 Formation of corporations for my BUSINESS ORGANIZATIONS FOR PARALEGALS course. The questions i need help with are the following: 1. Griffin
I'm in chapter 9 "Formation of corporations" for my BUSINESS ORGANIZATIONS FOR PARALEGALS course. The questions i need help with are the following:
1. Griffin and Ellie are planning to incorporate their business. In October, Griffin made arrangements to rent space for the proposed business, and the landlord then took the premises off the market and made several remodeling changes at the premises to accommodate Griffin's requests. The corporation was never formed. a. Who, if anyone, is liable to pay the landlord? b. Assume that the corporation was formed on December 1 and moved into the renovated spaces shortly thereafter. If the corporation wishes to enforce various terms of the lease, may it? With respect to the corporation, what is the effective date of the lease? Why? 2. Indicate whether the following names would likely be valid corporate names: a. J & J Enterprises b. Fulton Insurance Company c. U.S. Benefit Consultants, Inc. 209d.Benefits Consultants, Inc. 3.After ABC Inc. is formed in Montana, its directors decide to expand into other western states, including Oregon and Washington. The expansion will likely occur next year. a. What should ABC do to ensure its name is available in those states? b. If ABC expands into Oregon and a dispute occurs in Oregon regarding how directors of ABC are to be elected, which state's law will govern? Why? 4. Indicate whether (and why) the following items would be better placed in a corporation's articles of incorporation or in its bylaws. a. A statement that the corporation will afford preemptive rights to its shareholders b. The location of the corporation's annual meeting c. A provision indicating that directors of the corporation must be residents of the state of incorporation 5. Integra Corp. filed its articles of incorporation on February 1. Thereafter, it sold several trucks to Ace Trucking, Inc. for the sum of $200,000. Ace has discovered that the articles of incorporation listed the corporation's principal address as 1100 Elm Street rather than 11000 Elm Street. May Ace now avoid paying for the trucks on the basis that Integra was not validly formed? Discuss."
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started