Question 1
If an employee of a corporation, while carrying out the duties of their job, does something that causes injury or damage to a third party, the corporation will be liable for those injuries or damage under the doctrine of:
unlimited liability.
centralized management.
respondeat superior.
ultra vires.
Question 2
A bond is:
an ownership interest in a corporation that gives the owner preferences with respect to the assets of the corporations and dividends paid by the corporation.
a debt instrument that allows the holder to convert the debt into a number of shares in the corporation having a value equal to the amount of the bond.
a debt instrument that requires the corporation to pay the holder a stated amount of interest for a stated period of time and then to pay the holder the amount of the bond.
an ownership interest in the corporation that allows the holder to vote in corporate elections.
Question 3
With respect to the formation of a corporation, a subscriber is:
a person who has purchased stock in a newly formed corporation.
a person who has offered to purchase a specific number of shares in a corporation that is to be formed.
a person who has expressed an interest in purchasing stock in a corporation that is to be formed but who has not committed to the number of shares to be purchased.
a person who begins the process of forming a new corporation.