Asked by Brianna Weidaman on Jun 04, 2024
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A corporation's sale of substantially all of the assets of the business must be approved by its shareholders.
Substantially All
A term used in legal and finance contexts to indicate a majority or near-total portion of an asset, company's assets, or activity.
Approved
Officially accepted or sanctioned by an authoritative body, indicating compliance with specified requirements or standards.
Shareholders
Shareholders are individuals or entities that own one or more shares of stock in a corporation, making them partial owners of the company.
- Identify the requirements for corporate actions such as asset sales and mergers, including shareholder approvals.
Verified Answer
Learning Objectives
- Identify the requirements for corporate actions such as asset sales and mergers, including shareholder approvals.
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