On a consolidation, one corporation inherits all of the rights and liabilities of its predecessors.

Name: On a consolidation, one corporation inherits all of the rights and liabilities of its predecessors.
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Question

On a consolidation, one corporation inherits all of the rights and liabilities of its predecessors.​

Quizplus · Accepted Answer

This is because on consolidation, the new corporation (also known as the survivor or successor) assumes all the assets, liabilities, and obligations of the original corporations, effectively merging them into one entity.

On a Consolidation, One Corporation Inherits All of the Rights