Question 1 of 7 Sarah Palin is an intern in your office. You have been working with Sarah to make advice for Jim Patience, who has sought advice on the incorporation of a company. Sarah has had some problems understanding the world of corporate law. Using appropriate examples explain the following concepts: (a) Unlimited liability (2 marks)

(b) Limited liability (2 marks)

(c) Federal Corporation (2 marks)

Question 2 of 7 Gordy Campbell is a Director on the Board of Greasy Palms Inc., a Federal company. The company is currently expanding its operations, due to a major contract it has received from the Federal Government. At the Board meeting today, Shady Bradie, the CEO of the Company made a presentation on two methods of raising money in a company. Bradie mentioned that one method can lead to loss of control, and generally the company's assets and liabilities are very important to financing. This all sounds very confusing to Gordy and he requires some explanation of what this all means. Explain the points made by Shady Bradie using appropriate examples. (5 marks)

Question 3 of 7 Casey Printers is meeting with you to discuss the purchase of a company from Foolish Football Limited. make a note, with appropriate examples and/or illustrations, to advise Casey on the following: a) Due diligence (2 marks)

b) Share purchase (2 marks)

c) Asset purchase (2 marks)

Question 4 of 7 Guns Blazin wants to start new business but is not sure which business structure to use. Explain to him different methods of operating business with their pros and cons. (8 marks)

Question 5 of 7 Explain with the use of diagrams and other methods, including examples and with reference to legislation, case law and other reference material the relationship between Shareholders, Directors and Management. (10 marks)

Question 6 of 7 Your firm has been shortlisted for engagement by a Provincial Crown Corporation, BC. You have been asked by your supervising lawyer High Pitch to do some research on corporate governance on crown corporations and report a summary of research to him. (5 marks)

Question 7 of 7 Snow Flake is offered the position of a director by Misty Corporation, a federal corporation. He is not sure whether to take it or leave it as he is not sure about director's duties and responsibilities. With reference to the legislation and other material, explain and illustrate the concept of director's responsibilities to help him decide. (20 marks)