1. Exempt from the registration requirement of the Securities Act of 1933 are offerings of securities a. made to a small number of knowledgeable investors. b. issued by for-profit organizations. c. involving a large dollar amount. d. only for large organizations that are for-profit. 2. Global Investments is a foreign investor. With respect to the operations of a limited liability company in the United States, Global can a.not become a member but can participate. b. become a member and participate. c. not become a member or participate. d. Become a member but cannot otherwise participate.
1. Exempt from the registration requirement of the Securities Act of 1933 are offerings of securities a. made to a small number of knowledgeable investors. b. issued by for-profit organizations. c. involving a large dollar amount. d. only for large organizations that are for-profit. 2. Global Investments is a foreign investor. With respect to the operations of a limited liability company in the United States, Global can a.not become a member but can participate. b. become a member and participate. c. not become a member or participate. d. Become a member but cannot otherwise participate.
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1. Exempt from the registration requirement of the Securities Act of 1933 are offerings of securities
a. made to a small number of knowledgeable investors.
b. issued by for-profit organizations.
c. involving a large dollar amount.
d. only for large organizations that are for-profit.
2. Global Investments is a foreign investor. With respect to the operations of a limited liability company in the United States, Global can
a.not become a member but can participate.
b. become a member and participate.
c. not become a member or participate.
d. Become a member but cannot otherwise participate.
3. Quorum requirements include _________
a. number of decision-makers that must be present before business can be conducted.
b. how often decision-makers must meet each year.
c. maximum number of shareholders allowed in for-profit companies.
d. all other answer choices
4. Fiduciary duties of the directors and officers include
a.duty of care
b. duty of loyalty
c. both duty of care and duty of loyalty
d.neither duty of care nor duty of loyalty
5. The Grill Inc. seeks to purchase a substantial number of the voting shares of Frying Pan Inc. The directors of Frying Pan resist The Grill's takeover attempt. In analyzing whether this is reasonable, a court would apply
a. no outside evidence.
b. the corporation's policies.
c. the appraisal.
d. the business judgement rule.
6. Like other corporations, Market Maker Inc. can expand its operations by
a. purchasing voting shares.
b. combining with another corporation.
c. terminating its existence.
d. dissolving and winding up.
7. Opal is an officer of Peaches n’ Pears Inc. The board removes Opal in violation of an employment contract. Peaches may be liable for breach of
a.the duty of loyalty.
b.contract.
c.the business judgment rule.
d.the bylaws.
8. Dissolution can be brought about by the following ways except which one
a. an act of the state.
b. an agreement of the shareholders but not the board of directors.
c. expiration of a time period stated in the certificate of incorporation.
d. a court order.
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