True or False:

1. In a closely held corporation, the shareholders lack a readily-available market into which they can sell their shares.
2. A minor can appoint an agent to act on his behalf but lacks capacity to serve as an agent
3. Once the plaintiff has filed a complaint, the defendant must file an Answer or Motion to dismiss or risk a default judgement.
4. Corporate officers are usually appointed and removed by the shareholders
5. The number of "members" that can own an interest in a LLC is limited to one hundred
6. A shareholder in a C corporation can only be subject to the effects of "double taxation" if some form of dividend distribution is made by the corporation to its shareholders
7. On Sep1, 2016, Mark, President of Tina industries, verbally agrees to hire Orange as Interim Division Chief of the company's distribution operations, for a period of 9 months, employment commencing on Dec 15, 2016. When Mark later tries to back out of the contract, Orange sues for breach of contract. The contract is unenforceable because of the Statue of Frauds and Mark will successfully defend the lawsuit on that basis.
8. In a Chapter 7 bankruptcy proceeding, an automatic stay temporarily prevents further efforts by most creditors to enforce collection of their debts against the debtor.

True or False and explain shortly