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- Pls help ASAP2. Can Do Sdn Bhd (henceforth CD) was incorporated more than 3 years ago. It is a closely knit family business. Three brothers X, Y and Z are the directors of the company. All the shares in the company are held by the 3 directors and their immediate family members. Clause 9 of the company's constitution provides that the directors might in their absolute discretion refuse to register any transfer of shares. Recently, X made a decision to transfer his shares to 2 of his children, O and P and an application was made to the board of directors for this purpose. Y and Z have refused to register the transfer to O as they dislike O and consider this an opportunity to increase their shareholding in the company. Y and Z offered instead to buy over the shares at a price fixed by them but didn't provide any reason of refusal to register the transfer to O. As for the transfer to P, Y and Z have not made any decision to date. Two (2) months have passed since the date on which the transfer was…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?
- subject; accoutingC. Identify the Form of Business Organization being described. (a 1. Form of business organization with unlimited lives and the death or withdrawal of an owner does not affect its existence. 2. The establishment is generally an easy and inexpensive process. _3. The most important characteristic of this form of organization is always limited liability. 4. It involves a contractual agreement between all the partners that set the terms and conditions of their business relationship, including the distribution of ownership, responsibilities, and profits and losses. 5. This form of business organization generally enjoys fewer options to raise capital.James and John are directors of ‘Cakes & Frozen Novelties Company Limited.’ Peter, Paul andDavid are shareholders. The company has been in operation for four years. The company has notmade any profits since its inception but James and John decided to declare dividends from thecompany’s capital reserves. The company has 10 million shares that were not distributed. Jameswent ahead and sold the shares to his wife, who is not currently a member of the company.Peter enquired as to whether or not the company can just purchase the shares issued, as there aremany different types of shares available. Paul noted that this is possible but pointed out thatRedeemable shares have particular features and certain procedures must be followed in order toredeem. He also stated three ways in which the company must finance these redeemable shares.James asked about the effect of the redeemable shares. John was puzzled and asked how acompany can redeem its share capital, especially when there is a…
- 1a. What are the general characteristics of bailments? 1b. List and describe the elements of a bailment. 1c. Describe the various types of bailments and provide an example of each.What does the term "Affiliated Party mean? ΟΛ Any person who directs or participates in the conduct of alluss of a bourse and who is an officer, stockholder, owney or other person who directly controls a com Any person who is related to the writing insurance agent and works for the same based insurance comparty Any person who has the authority to bind the insurer to the risk of being assumed without requiring a bone or appointment Every group, association or other organization that prepares policy forms and makes underwriting rules axikvit to the setting of rates and underwing clos B. OC O DEe.56. Subject :- Account May you tell me what I'm doing wrong?
- Wilma offers to sell her car to Betty but Wilma dies before Betty accepts the offer. Wilma’s death a. shortened the time of the offer but did not terminate it. b. did not affect the offer. c. extended the time of the offer. d. terminated the offer.a) 1,860,000b) 2,040,000c) 2,670,000d) 2,070,0007 which of the following statements is correct about an ordinary life policy A premium payment can be increased or decrease at the discretion of the premium payer B the beneficiary designation can be changed to another person only if that person a medical examination C the policy owner may borrow against the cash value of the policy D The named beneficiary must submit evidence of continuing insurable interest in the life of the insured