Under the Revised MBCA,if There Are Business Debts Following a Defective

question 36

Multiple Choice

Under the revised MBCA,if there are business debts following a defective incorporation,liability for the debts will be imposed upon:

• A)all purported shareholders who acted as if a corporation had been formed.
• B)promoters,managers,or purported shareholders who only participated in management and policy decisions in the business.
• C)all shareholders and directors who participated actively or inactively.
• D)promoters,managers,and shareholders who participated in management and policy decisions,and also knew of the defective incorporation.

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Definitions:

Gene Therapy

Correction of a detrimental mutation by the insertion of DNA sequences into the genome of a cell.

Cancer Treatment

Medical strategies and interventions, such as chemotherapy, radiation, and surgery, used to fight or manage cancer by killing or inhibiting tumor cells.

Immune System

System associated with protection against pathogens, toxins, and some cancerous cells. In humans, this is an organ system.

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Plant, bacterial, or fungal cells with the cell wall removed, leaving the plasma membrane, cytoplasm, and organelles intact.