Question

In: Operations Management

Terms: Private Corporation 11. License Limited liability 12. Joint & several liability Actual authority 13. Public...

Terms:

  1. Private Corporation

11. License
  1. Limited liability

12. Joint & several liability
  1. Actual authority

13. Public Corporation
  1. Officer

14. Due diligence
  1. Apparent authority

15. Limited liability partnership
  1. Oppression remedy

16. Vicarious Liability
  1. General partnership

17. Director
  1. Corporation

18. Sole proprietorship
  1. Limited partner

19. Franchise
  1. Prospectus

20. Fiduciary duty
  1. ABC Inc. is owned by many different shareholders as its shares on sold on the stock exchange. #_____

  1. The firm of Jane, Bing and Mary LLP recently rented space in a new building. #_____

  1. Joe Fayed has decided to invest in the firm of Dottie, Glass and Eame. He will contribute $100,000 and he hopes that the new venture the firm is going into will be successful. He will not be offering any advice, nor take part in the management of the firm. #_____

  1. Jill and Jenny were equal partners. Their ice-cream store didn’t do well and the bank loan went into default. The bank collected the entire amount from Jill. #_____

  1. Sharon’s Flower shop Inc. went bankrupt. The only shareholder was Sharon. Sharon’s assets were not used to pay any creditors. #_____

  1. Minh entered into an agreement with Felice to authorize Felice to sell Minh’s art paintings on his behal #_____

Solutions

Expert Solution

ABC Inc. is owned by many different shareholders as its shares on sold on the stock exchange​​​​ : public corporation

a public corporation can list its stock on exchange.

The firm of Jane, Bing and Mary LLP recently rented space in a new building. : Limited Liability partnership

​​​​llp is limited liability partnership

Joe Fayed has decided to invest in the firm of Dottie, Glass and Eame. He will contribute $100,000 and he hopes that the new venture the firm is going into will be successful. He will not be offering any advice, nor take part in the management of the firm. : limited partne​​​

limited partner is someone who has no rights to vote but has invested money.

Jill and Jenny were equal partners. Their ice-cream store didn’t do well and the bank loan went into default. The bank collected the entire amount from Jill. vicarious liability

Vicarious liability is one partner having to deal with liability caused due to mistakes or negligience

Sharon’s Flower shop Inc. went bankrupt. The only shareholder was Sharon. Sharon’s assets were not used to pay any creditors. prIvate corporation

​​​only one shareholder but the liability was limited ,makes it private corporation.

Minh entered into an agreement with Felice to authorize Felice to sell Minh’s art paintings on his behal : License

license is the right to manufacture or sell on behalf of other company.

keosha answered 1 year ago
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