The Combination of Two or More Corporations' Total Assets, Title

question 40

Multiple Choice

The combination of two or more corporations' total assets, title to which is vested in one of them, known as the surviving corporation, is a:

• A) dissolution.
• B) liquidation.
• C) consolidation.
• D) merger.

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Definitions:

Notice of Dishonor

A notification that a negotiable instrument, such as a check or promissory note, has been presented for payment and that payment has been refused.

Banking Day

A business day during which financial institutions are open for business with the public, typically excluding weekends and public holidays.

Calendar Days

The consecutive days on a calendar, including all weekdays and weekend days.

Without Recourse

A term indicating that the seller of an asset is not liable to the buyer for any defects or non-performance.