Distributions of a Corporation's Assets Received by a Shareholder with Knowledge

question 40

True/False

Distributions of a corporation's assets received by a shareholder with knowledge of their illegality may be recovered on behalf of the corporation.

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Definitions:

Due Date

The specified date by which a task, obligation, or payment must be completed or submitted.

Cash Discount

A deduction from the invoice price offered by the seller to the buyer for prompt payment of their bill.

Discount Date

The specified date by which payment of a bill or invoice is required to avail a discount for early payment.

Delivery Charge

A fee charged for the delivery of goods or services to a recipient's location.