Which of the following states has been considered the most attractive for incorporation?

Question 37 options:

	Delaware
	New York
	Iowa
	California

A basic principle of corporation law is that:

Question 38 options:

	there is an established market for the stock
	shareholders are not free to dispose of their shares by gift.
	shareholders are given the authority to manage the business
	generally majority rule applies to both shareholder and director action

Under the Model Business Corporation Act, a shareholder may ask a court to dissolve a corporation when:

Question 39 options:

	a corporation uses assets for public welfare
	creditors are acting unfairly or illegally
	directors are in conflict, their deadlock cannot be broken by shareholders, and the corporation faces ruin
	directors are maintaining registered agents without the approval of the shareholders

Which of the following would be a justification for involuntary dissolution of a corporation by a creditor?

Question 40 options:

	When there is misapplication or waste of corporate assets
	When directors are acting illegally or unfairly
	When directors are in conflict, deadlock cannot be broken by shareholders, and the corporation faces ruin
	When corporation is insolvent and not paying its debts