Fact Pattern 30-1Shale Oil Processing Corporation Combines Its Assets and Debts

question 42

Multiple Choice

Fact Pattern 30-1Shale Oil Processing Corporation combines its assets and debts with those of Tierra Frakking Company to form United Resources, Inc. Shale and Tierra cease to exist.
-Refer to Fact Pattern 30-1.United Resources assumes 

• A) ​all of Shale's and Tierra's debts. 
• B) ​half of Shale's and Tierra's debts. 
• C) ​none of Shale's and Tierra's debts unless there is a formal transfer of liability. 
• D) ​only debts that Shale and Tierra incurred after a combination was proposed.

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