Precise Device Corporation and Quality Instruments, Inc

question 53

Multiple Choice

Precise Device Corporation and Quality Instruments, Inc., decide to merge. This corporate combination does not require the approval of

• A) Precise and Quality's directors.
• B) Precise and Quality's officers and employees.
• C) Precise's shareholders.
• D) Quality's shareholders.

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Definitions:

Dishonored

Refers to a failure in fulfilling an obligation, such as a check not being paid because of insufficient funds.

Draft

A preliminary version of a document or plan, subject to revisions and improvements.

Blank Indorsement

An indorsement made by a signature alone, with no particular indorsee, written on a negotiable instrument.

Warranties by Indorsers

Guarantees made by indorsers about the validity and enforceability of negotiable instruments.