Corporations Can Issue

question 120

Multiple Choice

Corporations can issue:

• A)par value shares.
• B)no-par value shares.
• C)stated value shares.
• D)All of these answers are correct.

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Definitions:

Illegality of Object

Refers to a principle in contract law that prohibits the enforcement of agreements that involve an illegal purpose or object.

Rescission

The legal act of cancelling or annulling a contract, returning all involved parties to their state prior to the contract's formation.

Statutory Assignment

The transfer of rights or benefits from one party to another in accordance with statutory provisions.

Assignee

An individual or entity to which rights or interests have been transferred, typically in the context of contracts or other legal agreements.