Jaycee Is a Shareholder for Designer Pet Clothes,Inc

question 11

Multiple Choice

Jaycee is a shareholder for Designer Pet Clothes,Inc.Designer Pet Clothes uses cumulative voting to elect directors.This means that the number of Jaycee's votes is determined by

• A)how long Jaycee has been a shareholder.
• B)the number of members of the board to be elected multiplied by the total number of voting shares Jaycee holds.
• C)the number of shareholders present at the most recent shareholders' meeting.
• D)the number of shareholders' meetings Jaycee has attended in the past year.

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Definitions:

Primarily Liable

Having the main or first responsibility for fulfilling an obligation or debt.

Imposter

A person who deceives others by pretending to be someone else for personal or financial gain.

Obligor

A person or entity legally bound to provide a payment, service, or other benefit to another (the obligee) under the terms of a contract or legal agreement.

Negotiable Instrument

A formal written notice ensuring a particular sum of money will be paid, either immediately when asked or at a certain date, with the document specifying who is to pay.