What Is a Class Action

question 37

Multiple Choice

What is a class action?

• A)An action taken by more than one litigant.
• B)An action taken by multiple persons with similar claims against another party.
• C)An action taken by one person against multiple persons.
• D)An action taken against more than one litigant.

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Definitions:

Corporate Creditors

These are entities or individuals to whom a corporation owes money, often due to borrowing or acquiring services or goods on credit.

Plan of Consolidation

A strategy or proposal for combining two or more entities into a single entity, usually to streamline operations and reduce costs.

Consolidation

A contractual and statutory process in which two or more corporations join to become a completely new corporation.

Corporate Combinations

Mergers or acquisitions between companies to consolidate assets, operations, or management.