Case s ummary : P Incorporation, on the behalf of M, signed a subscription agreement to buy the stock of the company CC with the company C, which acted on its behalf. The agreement states that the state court of Delaware shall exercise exclusive jurisdiction over any action concerning the subscription agreement. When the cash reserves of CC depleted due to the financial crisis that further led to liquidation, the company M held CC liable for all the incurred damages. The company C filed a case against the company P for the enforcement of the forum selection clause.
To find: The bindings of the company P to the forum selection clause if the company P had signed the agreement of subscription as the director of M without any other relation to the agreement.
Trending nowThis is a popular solution!
Chapter 11 Solutions
EBK THE LEGAL ENVIRONMENT OF BUSINESS:
- find the balance after 7years if $55000 is invested at 6% p.a. compound annuallyarrow_forward31.Each month, Act Corporation has $320,000 total manufacturing costs (25% fixed) and $140,000 distribution and marketing costs (40% fixed). Act's monthly sales are $600,000. What is the mark up percentage on full cost to arrive at the target (existing) selling price?arrow_forwardHii, tutor give me Answerarrow_forward
- What is the semiannual interest payment? Accounting questionarrow_forwardProvide correct answer general accounting questionarrow_forwardMichael's Home Furnishings made Net Sales Revenue of $150,000, and the Cost of Goods Sold (COGS) totaled $90,000. What is the gross profit percentage for this period? a. 50% b. 40% c. 30% d. 60%helparrow_forward
BUSN 11 Introduction to Business Student EditionBusinessISBN:9781337407137Author:KellyPublisher:Cengage Learning
Essentials of Business Communication (MindTap Cou...BusinessISBN:9781337386494Author:Mary Ellen Guffey, Dana LoewyPublisher:Cengage Learning
Accounting Information Systems (14th Edition)BusinessISBN:9780134474021Author:Marshall B. Romney, Paul J. SteinbartPublisher:PEARSON
International Business: Competing in the Global M...BusinessISBN:9781259929441Author:Charles W. L. Hill Dr, G. Tomas M. HultPublisher:McGraw-Hill Education