QUESTION 21

1. Three partners vote unanimously to dissolve their partnership and the partnerships assets are liquidated, all debts are paid, and the remainder is divided among the partners. This results in

   	a.	the termination of the partnerships legal existence.
   	b.	the temporary suspension of the partnerships business.
   	c.	nothing with respect to the partnerships existence.
   	d.	the continuation of the partnerships business.

QUESTION 22

1. Responsibility for the overall vision or direction of a corporation belongs to

   	a.	the corporate officers and managers.
   	b.	the owners of the corporation.
   	c.	the shareholders.
   	d.	the board of directors.

QUESTION 23

1. Misappropriation theory allows courts to find individuals liable when they steal material non-public information and use it as the basis for insider trading.

   True

   False

QUESTION 24

1. Alex files a lawsuit against Cement Company. Before the lawsuit is resolved, Cement merges with Bridge Corporation, with Bridge absorbing Cement. After the merger, liability resulting from Alex's lawsuit, if any, belongs to

   	a.	no one.
   	b.	Alex.
   	c.	Cement.
   	d.	Bridge.