A _____ Existed When There Was an Honest Attempt to Comply

question 14

Multiple Choice

A _____ existed when there was an honest attempt to comply with the mandatory provisions of the corporate statute, yet the attempt still failed in some material respect.

• A) de jure corporation
• B) de facto corporation
• C) corporation by estoppel
• D) close corporation

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Definitions:

Accumulated Wealth

The total value of financial and material assets owned by an individual or entity, amassed over time.

Responsibilities

Duties or tasks that an individual is required or expected to carry out, often associated with a specific role or position.

Situationist Argument

An argument suggesting that human behavior is largely determined by situational factors rather than inherent personality traits.

Personality Trait

A pattern of thought, emotion, or behavior that is relatively consistent over time and across situations.