A Successor Enterprise Is Not Subject to the Contract Obligations

question 14

Multiple Choice

A successor enterprise is not subject to the contract obligations of the former business if:

• A) one corporation is absorbed by another through merger.
• B) a corporation merely purchases the assets of another business.
• C) two or more corporations consolidate.
• D) none of the above.

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Definitions:

Chesapeake Region

An area in the United States encompassing parts of Virginia and Maryland, notable for its early role in American colonial history.

Social Division

The segregation of society into groups based on socioeconomic, racial, ethnic, or other distinctions, often leading to inequality and tension.

White Virginia Families

Refers to elite family networks within colonial Virginia, notable for their influence in social, economic, and political spheres during the 17th and 18th centuries.

Owned

colloquially refers to having something under one's possession or control, but in internet slang, it also means to decisively defeat or humiliate someone.