Corporations Megathread Flashcards
1
Q
De facto corporation
A
protects someone when do not get rejection in mail from SOS
2
Q
Include in the articles of incorporation
A
SPAWN
share info
par value (minimum issue price)
Address info (name and address of agent and PPB)
Why the corp is being formed (statement of purpose)
Name of corp, including inc.
3
Q
Corporation by estoppel
A
you thought you were dealing with a corp, signed contracts, etc.
4
Q
Promoters
A
liable unless there is a novation or an agreement saying they are not
5
Q
Do shareholders have rights to dividens
A
NO, although, cannot be held in bad faith
6
Q
Shareholders voting time frame
A
10-60 days of notice and PURPOSE
quorum - majority
7
Q
A
