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True or False Quiz
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1
Joe, a shareholder of Titan Co. may die and Titan continues unaffected.
A)True
B)False
2
Big Co. is incorporated in Delaware and owns land in New York. Big may be sued in Delaware but not in New York.
A)True.
B)False.
3
Big Co. is incorporated in Florida and doing business in Kansas. Big Co. is a foreign corporation in Kansas.
A)True
B)False
4
Tina, a promoter, contacts to sell her land to Small Co., a corporation to be formed. Tina must reveal her interest in the land to Small.
A)True
B)False
5
A statutory agent is appointed after the corporate charter is issued.
A)True.
B)False.
6
To determine the number of officers that a corporation has, one looks in the articles of incorporation.
A)True
B)False
7
If an L.L.C. elects to be taxed as an association then it will be taxed as a corporation.
A)True
B)False
8
Veil piercing by the courts is less likely to occur with an L.L.C. than a corporation.
A)True
B)False
9
Sue owns 100 shares of stock in Big Co. and may expect to have annual dividends.
A)True
B)False
10
A corporation is an artificial person under the common law.
A)True
B)False





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