If There Is a Consolidation of Corporations A, B, and C

question 23

Multiple Choice

If there is a consolidation of corporations A, B, and C: ______.

• A) corporations B and C are absorbed into corporation A, and corporation A continues to exist.
• B) all of the corporations continue to exist.
• C) all corporations continue to exist, but corporation A owns all of the stock of corporations B and C.
• D) corporations A, B, and C cease to exist, and a new corporation with the property and assets of the old corporations comes into being.

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Definitions:

Contractual Obligations

Responsibilities that parties are legally bound to perform under a contract.

General Partnership

A business structure where two or more individuals own and operate a business together, sharing profits, losses, and liabilities.

Motion To Compel

A legal request to the court to mandate a party to take a specific action, often related to the disclosure of evidence.

Civil Procedure

The body of law that sets out the rules and standards courts follow when adjudicating civil lawsuits.