Don Sets Up Empty Vessel Inc

question 3

Multiple Choice

Don sets up Empty Vessel Inc. (EVI) , but fails to provide the firm with sufficient capital. Don formed EVI not to make a profit but to assume debts that he does not wish to pay. This most likely warrants

• A) tricking Don into disclosing EVI's true purpose to Don's creditors.
• B) recognizing EVI as a de facto corporation.
• C) piercing EVI's corporate veil.
• D) requiring Don to commingle his personal funds and EVI's funds.

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Definitions:

Agricultural Adjustment Act

New Deal legislation passed in 1933 that established the Agricultural Adjustment Administration (AAA) to improve agricultural prices by limiting market supplies; declared unconstitutional in United States v. Butler (1936).

Farm Prices

The monetary value assigned to agricultural products, which can fluctuate based on factors such as supply, demand, and market conditions.

Production Quotas

Predetermined targets for the amount of goods a factory or country must produce within a certain timeframe, often used in planned economies.