Which of the Following Statements Is True for the Dissolution

question 29

Multiple Choice

Which of the following statements is true for the dissolution of a corporation by agreement?

• A)It doesn't require the state's consent to dissolve.
• B)A corporation can be dissolved by oral consent of all shareholders.
• C)If two corporations consolidate into a new corporation,only the old one with major shareholders is dissolved.
• D)A corporation that merges into another is dissolved.

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Definitions:

Breach

The violation of a law, duty, or other form of obligation, including breaking a contract or agreement.

Duty

A moral or legal obligation to perform an action or uphold a standard of behavior.

Liability

The legal responsibility for one's actions or omissions, potentially resulting in the requirement to compensate for damage or loss.

Constructive Trust

An equitable trust that is imposed in the interests of fairness and justice when someone wrongfully holds legal title to property.