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Shrimp Boat Company decides to consolidate its operations with Trawlers




Shrimp Boat Company decides to consolidate its operations with Trawlers, Inc., to form Unique Fishers Corporation (UFC). Trawlers owed money to View Harbor Storage and other creditors. After the consolidation, UFC must pay;a. all of Trawlers' debts.;b. half of Trawlers' debts.;c. none of Trawlers' debts.;d. only debts that Trawlers incurred after consolidation was proposed.;32. Pink Boutique Company, Inc. (Pink Boutique) and Purple Kiosk Company, Inc. (Purple) decide to consolidate. This corporate combination does not require the approval of;a. Pink Boutique?s directors and Purple's directors.;b. Pink Boutique?s officers and employees and Purple's officers and employees.;c. Pink Boutique's shareholders.;d. Purple's shareholders.;33. Giant Lift Corporation (Giant Lift) purchases all of the assets of Heavy Hydraulics Corporation. With respect to Heavy Hydraulics Corporation's liabilities, Giant Lift is;a. automatically responsible.;b. not responsible under any circumstances.;c. responsible if Heavy Hydraulics is a competitor of Giant Lift.;d. responsible if the sale is actually a merger or consolidation.


Paper#32831 | Written in 18-Jul-2015

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