Erin,Sarah,and Timmy Are Equal Partners in EST Partnership

question 25

Multiple Choice

Erin,Sarah,and Timmy are equal partners in EST Partnership.Sarah also owns 40% of Elton Corporation.The remaining shareholders of Elton Corporation are: Erin (24%) and Sarah's uncle (36%) .What percent ownership does Sarah directly or constructively own in Elton Corporation?

• A)40%
• B)64%
• C)76%
• D)100%

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Definitions:

Criminal Cases

Legal proceedings brought against individuals accused of committing crimes against the state or public.

Appellate Jurisdiction

The authority of a court to review and decide on appeals from the decisions of lower courts.

Original Jurisdiction

The power of a court to hear a case for the first time, as opposed to appellate jurisdiction.

Concurrent Jurisdiction

The situation where two or more courts from different systems simultaneously have jurisdiction over a specific case.