True or False: Corporations lack perpetual existence as do limited partnerships
FALSE
T/F: "Doing business" in state A subjects a foreign LLC to the jurisdiction of state A
F
T/F: "Disregarding the LLC" normally results in the member's personal liability
T
T/F: Corporation's shareholders approve a corporations bond issuance
F
T/F: Upon dissolution, each shareholder is entitled to his/her share of each of the corp's net assets
T
T/F: Corp directors who vote for illegal dividends are personally liable for it
T
T/F: Shareholders must ratify all fundamental corporate changes
T
T/F: Directors choose corporate officers
T
T/F: Derivative lawsuits occur when shareholders sue directors (on behalf of the corp) once the directors have declined to review and reverse a prior board decision
T
T/F: General partnerships need to be in writing
F
T/F: Each partner is an agent/fiduciary in an LLP
T