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Marian,Phillis,and Lauren are three directors at A Mart Supplies Ltd.The corporation has $150 000 in assets,including capital and $110 000 in debt.
(1)If the directors passed a resolution redeeming all the preferred shares of the corporation for $50 000,what remedy would unpaid creditors of the corporation have and against whom?
(2)If Phillis and Lauren voted in favour of a directors' resolution approving the corporation's purchase of artwork from an unknown artist for $60 000 for resale purposes and it turned out that the work was unsaleable and was ultimately disposed of for less than $10 000,what remedy would unpaid creditors have and against whom?
Episodic Memory
The type of long-term memory that involves the recollection of specific events, situations, and experiences, including the context of time and place.
Digit-span Test
A psychological test used to measure working memory's capacity by having subjects repeat back a sequence of numbers.
Declarative Memory
A type of long-term memory that involves the recall of specific facts and events which can be verbally stated or "declared."
Short-term Memory
A capacity for holding a small amount of information in an active, readily available state for a short period.
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