Walter and Gordon Are the Shareholders of a Small Private

question 6

Multiple Choice

Walter and Gordon are the shareholders of a small private Ontario company,which recently went bankrupt due to the world wide recession,owing $100 000.00 to its creditors.Unfortunately the company's assets are only $50 000.00.In this case,the amount available to satisfy the creditors of the company will be

• A)$50 000.00 plus Gordon's assets only.
• B)$50 000.00 plus Walter's assets only.
• C)$50 000.00 plus the assets of both Walter and Gordon.
• D)$50 000.00 only.
• E)none of the above

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Definitions:

Clayton Act

A United States antitrust law passed in 1914, aimed at promoting competition by preventing unfair practices such as price discrimination and exclusive dealing agreements.

Sherman Act

The Sherman Act is a landmark U.S. antitrust law enacted in 1890 to combat anti-competitive practices and promote fair competition.

Federal Trade Commission Act

A United States federal law enacted in 1914 to promote consumer protection and eliminate and prevent anticompetitive business practices.

Vertical Merger

The joining of two firms engaged in different parts of an industrial process, or the joining of a manufacturer and a retailer.