Examlex
Identify any fallacies in the following passage either by naming them or, where they seem not to conform to any of the patterns described in the text, by giving a brief explanation of why the fallacious reasoning is irrelevant to the point at issue.
"I don't believe we ought to believe the so-called 'admissions' of the Liggett and Myers Company. I think the only reason they're now agreeing with tobacco critics about the addictive powers of nicotine and the nicotine-level manipulation by the company is to get themselves off the hook and avoid bigger trouble, even if it means getting the other tobacco companies into bigger trouble."
De Facto Corporation
A business that operates as if it were a legally incorporated company, even though it has not completed the formal incorporation process.
Misappropriates
The act of taking something dishonestly for one's own use, often in violation of trust or ownership.
Shareholders
Individuals or entities that own one or more shares of stock in a corporation and therefore have a financial stake in its performance.
Ultra Vires Act
An action taken by a corporation or its officers that exceeds the powers granted by its charter or law.
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