Maxwell Is Considering Bringing Legal Action Against William with Respect

question 20

Multiple Choice

Maxwell is considering bringing legal action against William with respect to the theft of his bicycle.Maxwell consults a solicitor who advises him to carefully consider various matters before bringing proceedings.Those matters are not likely to include:

• A)The possibility that Maxwell might not be able to prove that William stole his bicycle.
• B)The fact that the cost of the litigation will probably outweigh the cost of the bicycle.
• C)The delay involved in conducting litigation.
• D)The prospect that Maxwell's legal action might hurt William's feelings.

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Definitions:

Corporate Board

A group of individuals elected by shareholders to oversee and make decisions on behalf of a corporation.

S-corp

A special designation for a corporation in the United States that allows profits and losses to be passed through to shareholders to avoid double taxation on corporate income.

C-corp

A type of corporation in the United States that is taxed separately from its owners, as defined under subchapter C of the Internal Revenue Code.

Investment

The allocation of resources, usually money, with the expectation of generating an income or profit.