Asked by Malaisha Easter on Jul 17, 2024
Verified
In the states that provide statutory solutions for close corporations that fail to address the share transferability problem,which of the following is not included in these statutes?
A) A right of first refusal provision
B) An option provision
C) A buy-and-sell provision
D) A consent restraint provision
Consent Restraint Provision
A clause in a contract that limits a party's actions based upon agreed terms, which is enforceable only if all parties consent to it.
Statutory Solutions
Statutory solutions involve solving legal, social, or economic issues through the enactment of laws or statutes by a governmental body.
Close Corporations
A designation for corporations with a limited number of shareholders and operations that are more informally managed, often without a board of directors.
- Analyze statutory solutions for addressing share transferability issues in close corporations.
Verified Answer
Learning Objectives
- Analyze statutory solutions for addressing share transferability issues in close corporations.
Related questions
A Broadly Held Corporation Has Fewer Restrictions on It Than ...
A(n)________ Requires a Selling Shareholder to Obtain the Consent of ...
When a Nonprofit Corporation Gives Its Members Transfer Rights,restrictions on ...
Pamela Is a Corporate Promoter for Nulla Corporation,a Corporation Yet ...
A(n)________ Occurs When Parties,by Mutual Agreement,discharge a Valid Existing Obligation ...