Requirements for Class Action Suits Include All of the Following

question 82

Multiple Choice

Requirements for class action suits include all of the following except

• A) the action of the adverse party is inconsistent toward members of the class.
• B) the members of the class are too numerous for joinder.
• C) the representative will protect the interests of the class.
• D) there are common questions of law and fact.

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Definitions:

Average Annual Gross Receipts

An average of a business's total gross income over a specified period, often used to determine tax reporting requirements or eligibility for small business tax concessions.

Complete Liquidation

The process of closing a business by selling all assets, paying off creditors, and distributing the remaining assets to shareholders.

Capital Gain

The profit from the sale of an asset or investment exceeding its purchase price, which is subject to taxation.

Ownership Interest

Refers to an individual's or entity's legal right to possess, use, and dispose of property or assets.