Zeron Corporation Stock May Be Summarized as Follows: 100,000 Authorized

question 19

Multiple Choice

Zeron Corporation stock may be summarized as follows: 100,000 authorized
90,000 issued
75,000 outstanding
15,000 treasury stock
How many shares or proxies will have to be present for a quorum (assuming no special provision and that the Revised Act is not in effect) ?

• A) 45,001
• B) 37,501
• C) 52,501
• D) 50,001

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Definitions:

Adverse Possession

A legal principle allowing a person to claim ownership of land or property through continuous occupation over a certain period without the permission of the original owner.

Title

The lawful entitlement to possess, hold, or utilize property.

Restrictive Covenant

A clause in a contract that limits certain actions or uses of property to protect business interests or property value.

Residential Purposes

The use of property for dwelling or living areas for individuals or families, as opposed to commercial or industrial purposes.