Asked by Jonathan Enriquez on Jul 29, 2024
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When a corporation is dissolved voluntarily, its assets can be liquidated without notice to its creditors.
Voluntarily Dissolved
Referring to the intentional decision by the owners or stakeholders of a company to legally dissolve the corporation or business.
Liquidated
The process of converting assets into cash or settling debts, often used in the context of closing a business or satisfying creditors.
Creditors
Individuals or entities that lend money or extend credit, and to whom a debt is owed by debtors.
- Identify the legislation governing different forms of corporate mergers, including the necessities for shareholder and creditor consents.
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Learning Objectives
- Identify the legislation governing different forms of corporate mergers, including the necessities for shareholder and creditor consents.
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