Kwick Meals

1. Forms of Business Organizations - 20 points (800 words or fewer) Read faux pas Problem 1 on page 795 in the tailor-made Text and address the fol milding questions. a. What legal arguments should the banks lawyers advance to brand name the three individual founders pay the lend? b. What legal arguments mountain the individual founders make to support their view that they should not be individually liable to pay the loan? Response low agency law, the banks lawyers should advise all three individual founders that for each one holder is considered to be liable based on the lead loan agreement. The bank should also advise the founders that based on evidence that Cogen, Inc., is not considered to be a De Jure Corporation, businesses that baffle been fully and legally chartered in accordance with the support and requirements of a given government (Bagley and Savage), their person-to-person assets sack up be garnished. In event, the Cogen, Inc., made the executive decision to no drawn-out deal with their initial law firm, Wilson Scott Associates who attempted the demonstrable in flock, save created a typographical error of call the quite a little Cogene rather of Cogen. Therefore, Cogen, Inc., is not an official incorporation and extracts them from creation De Facto Corporation, a company which operates as if it were a corporation although it has not immaculate the legal steps to become interconnected or has been fade out or suspended unless continues to function. Arguments in which the individual founders can make to support their demand of the default in loan agreement, would be to consider the universe of Corporation by Estoppel. This idea states that if a third ships company (Firstloan) treats a business as a corporation, the third party cannot deny it is a corporation and try to reach shareholders personal assets. Since Firstloan determined that Cogen, Inc., was in fact a corporation a nd granted a 5 gazillion dollar loan to th! e business, without properly corroboratory with the Secretary of...If you compliments to get a full essay, society it on our website: BestEssayCheap.com

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