Question
Purnell Sausage Company Inc. is a corporation organized and existing in the State of Kentucky. It buys an office building in Missouri and enters into
Purnell Sausage Company Inc. is a corporation organized and existing in the State of Kentucky. It buys an office building in Missouri and enters into a written lease agreement with Cunningham Drug Store for office space in the building without receiving authorization to operate in the State of Missouri. What will be the result?
| A. | The matter will be referred to the prosecuting attorney and Purnell Sausage Company may receive a fine of $1,000 or more. | |
| B. | The lease agreement will be voidable at the option of Cunningham Drug. | |
| C. | The lease agreement will be voidable at the option of Purnell Sausage Company, Inc. | |
| D. | Purnell Sausage Company, Inc. will be required to pay actual and compensatory damages to Cunningham Drug. |
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Intermediate accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
7th edition
978-0077614041, 9780077446475, 77614046, 007744647X, 77647092, 978-0077647094
