Asked by
Phalkon Clement
on Dec 18, 2024Verified
Which of the following results in a "chose in action"?
A) The surviving corporation's right to sue Sean for amounts owed.
B) The right of Alec to sue the surviving corporation for damages.
C) The right of Tyler to a golden parachute if he is terminated after the joining.
D) The right of Byron to fire Tyler after the merger.
E) The right of shareholders to dissent from the joining of the corporations for 30 days following.
Chose in Action
A personal right to property which can only be claimed or enforced by action, not by taking physical possession.
Surviving Corporation
The corporation that continues to exist after the merger or consolidation of two or more corporations, absorbing the assets and liabilities of the others.
Damages
Monetary compensation awarded by a court to a person who has suffered loss or injury as a result of another's wrongdoing or negligence.
- Acquire insight into the effects of business reorganization on corporate debts and legal suits filed against the firm.
Verified Answer
ME
Learning Objectives
- Acquire insight into the effects of business reorganization on corporate debts and legal suits filed against the firm.