Smith and Robersons Business Law Study Set 2
Quiz 34 :
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Q05 Q05 Q05
If no exemption is available, a corporation offering shares of stock for sale is subject to court injunction and civil liability in damages to persons to whom securities are sold in violation of the regulatory statute, but there is no potential criminal liability.
Q66 Q66 Q66
Gail transfers property to Tel Ko Corp.that she claims is valued at $5,000.The directors determine that the property is adequate to be exchanged for $5,000 worth of Tel Ko Corp.stock.Later it is discovered that the property's true value is $2,000.Under the RMBCA, which is true regarding Gail's liability?
Q67 Q67 Q67
Percy buys stock in XTX Corporation that pays dividends of $5 per share before dividends are paid on other stock of XTX.If the dividends are not paid in any given year, the dividends for that year must be paid when the company next declares dividends, until fully paid.Percy's dividends per year will not exceed $5 per share.Percy's stock is: