Legal writing

What is "ownership" mean?

• according to or following something, especially a rule or law

• the fact of owning something

  
  

• the fact of owning something

  
  

• a written account of something that is kept so that it can be looked at and used in the future

  
  

a large company or group of companies that is controlled together as a single organization

• corporation

• partnership

• sole proprietorship

• LLC

proposal is

• a person who does not agree with opinions that are officially or generally accepted

  
  

• the act or process of ending an official organization or legal agreement

• laws that are made by a local authority and that applies only to that area

• a formal suggestion or plan; the act of making a suggestion

  
  

liquidation is the process of_________, selling what it owns and paying its debts

• establishing a company

• closing a company

• developing a company

• crashing a company

acquisition

• a company, piece of land, etc. bought by somebody, especially another company; the act of buying it

• the act of selling the shares you have bought in a company or of taking money away from where you have invested it

• a person who is in a position of authority in the government or a large organization

• the act of providing a company, etc. with the money it needs to function

the act of providing a company, etc. with the money it needs to function

• divestment

• dividend

• capitalization

• equity

Which one is incorrect information about Right of vote?

• All corporations must have at least one class of stock representing an ownership interest in the company

• These shares entail voting rights for the shareholder.

• In most corporations, the basic ownership share is known as “civil stock”

• All are correct

Which one is correct?

• Shareholders may generally enforce their rights against the corporation in only one way.

• Managers control the corporation

• A derivative action is a lawsuit against auditor brought by shareholders on behalf of the corporation.

• shareholders of a corporation do not owe fiduciary duties to other shareholders.

bylaws is

• laws that are made by a local authority and that applies only to that area

• a formal suggestion or plan; the act of making a suggestion

• to take somebody’s position and/or power without having the right to do this

• a thing of value, especially property, that a person or company owns, which can be used or sold to pay debts

  
  

Which one is concerned with "Duty of Care"?

• Decisions by directors that violate the law also breach a duty of care to the corporation

• Managers must take reasonable steps to research or seek information about a situation before making a decision or taking action

• Directors must make decisions, particularly those committing resources of the corporation, based upon a rational business purpose

• All are correct