Oneal Wants to Buy a Computer Software Sales Business Being

question 74

Essay

Oneal wants to buy a computer software sales business being carried on by Softstuff Inc.The corporation has two classes of shares: common shares,which vote,and are entitled to receive dividends and the remaining property of the corporation on dissolution,and preferred shares,which do not vote,but are entitled to an annual dividend of 10 percent of the issue price and to receive the amount invested in return for the preferred shares.Dividends on the preferred shares must be paid before any dividends are paid on the common shares.Also,no payment on dissolution can be made to the holders of the common shares until full payment is made to the holders of preferred shares.Clay holds all of the 10 000 issued common shares.All of the 500 issued preferred shares are held by Clay's mother.Can Oneal buy control of this business by buying all of the common shares of the corporation from Clay?

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Definitions:

Self-Actualization

The realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone, the highest level of psychological development.

Triggered

The act of causing an emotional or psychological reaction, often due to past trauma or a specific stimulus.

Smoking Again

The act of resuming smoking tobacco after a period of cessation, often highlighting the challenges of addiction and the need for ongoing support in quitting.

Contemplation Stage

A phase in the stages of change model where an individual is aware of the need for change but is ambivalent or undecided about making the change.