Which of the Following Is False Regarding Société Anonymes (SA)and

question 28

Multiple Choice

Which of the following is false regarding Société Anonymes (SA) and Société à Responsabilité Limitée (SARL) companies in France?

• A) SA companies offer shares to the public and must have only one shareholder.
• B) SARL companies sell shares exclusively to company members.
• C) French law requires that all SA companies appoint an independent auditor to verify the legality of their accounts.
• D) French law does not require that SARL companies appoint an auditor.
• E) Members of SARL companies are liable only to the extent of their contributions to the company.

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Definitions:

Breach De Minimis

A term used to describe a breach of contract that is too minor to merit legal action or consideration.

Contracted

The act of entering into a formal and legally binding agreement.

Wedding Reception

A social event held after a wedding ceremony where guests celebrate the newly married couple.

Implied Repudiation

A situation where a party's actions suggest they do not intend to perform their obligations under a contract, without expressly stating this refusal.