Design Architects, Inc

question 70

Multiple Choice

Design Architects, Inc., and Excel Supply Company contract for a sale of office furniture. Design Architects, which is insolvent, breaches the contract. Excel can stop delivery of the goods in transit

• A) only if the quantity is at least a carload.
• B) only if the quantity is at least a planeload.
• C) only if the quantity is at least a truckload.
• D) regardless of the quantity.

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Definitions:

Irrevocable Proxy

A proxy or voting right given by a shareholder that cannot be revoked for a certain period, usually used in corporate settings.

Long-Term Proxies

Documents that authorize another individual to vote on behalf of a shareholder for an extended period.

Dissolution Of A Corporation

The formal process of legally ending the existence of a corporation, involving settling debts, liquidating assets, and distributing any remaining assets to shareholders.

Liquidation Of Assets

This process involves converting assets into cash or cash equivalents by selling them, typically during the winding down or bankruptcy of a business.