. Bankruptcy and insolvency are interchangeable teams (they mean the same), do you agree? What are the purposes of the Bankruptcy and Insolvency Act R.S.C 1985, c. B-3.?
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. Bankruptcy and insolvency are interchangeable teams (they mean the same), do you agree? What are the purposes of the Bankruptcy and Insolvency Act R.S.C 1985, c. B-3.?
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- Skip and Jack are the shareholders of the Blue Fish Event Corporation. Skip and Jack regularly put on classy events on or near the beach, so they have a special insurance policy to protect their assets. Business has been slow as fewer large beach weddings are taking place, so Skip and Jack use a large fan to blow down and damage most of their décor assets, some of which were personal assets of Skip and Jack, to collect the insurance benefits. (a) Assuming their acts are proven, will a court allow Skip and Jack to recover the insurance money? (b) Is this a situation where the corporate veil may be pierced? Why or why not? (c) What would it mean for Skip and Jack if the corporate veil is pierced in this situation?Ay-Bee-Cee-Dee Corp. has filed a Subchapter S election under the Internal Revenue Code for taxation purposes. As you know, S corporations are allowed only a limited number of shareholders and, regardless of the number, certain types of entities, including other corporations, cannot be shareholders in S corporations. Carter wants to transfer his shares of Ay-Bee-Cee-Dee Corp. to CarCor, Inc., a corporation that he and his brothers own. If Able, Baker, and Dennis want to preserve their Subchapter S election and, thus, block the transfer of Carter's shares to CarCor (without being stuck having to purchase Carter's shares themselves), which of the following transfer restrictions would best allow them to accomplish their goal? Multiple Choice Right of first refusal Consent restraint Provision disqualifying purchasers Buy-and-sell agreement Option agreement Right of first refusal Consent restraint Provision disqualifying purchasers Buy-and-sell agreement Option agreementIf a director allows a company to continue to trade indefinitely and the company is placed into liquidation, what are the potential liabilities for a director and how are these determined by the Courts?
- What business form would be most appropriate for Tim’s and why? Explain the benefits and drawbacks of the business form you chose. Explain which general state and federal laws (see resources below) might impact registration of Tim’s business, due to the fact that it is a restaurant business.what are the major exception toThe Employment-at- Will doctrineDefine real property under the common law. How does real property differ from the personal property? Distinguish between surface rights and subsurface rights. Can vegetation or plants ever become real property?
- How exactly a limited partner can lose the limited partner status and become a general partner with unlimited liability? Can you think of any relevant case law? (accorning to canadian law)1. Goldie and Hattie want to develop real estate and want to organize it under their state's Revised Uniform Limited Partnership Act. (a) Please advise Goldie and Hattie about what they will need to create and capitalize their partnership. (b) What advantages does the limited partnership business form offer to them over the general partnership? (c) What should Goldie and Hattie expect about their personal liability and tax situation?Can you please help me answer this?