Regarding the surviving entity in a merger situation

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Reference no: EM131375101

1. Which of the following is generally false regarding the surviving entity in a merger situation?

a. The surviving entity remains a single corporation.

b. The shareholders of the surviving entity must amend its articles of incorporation according to the specific conditions of the merger.

c. The surviving entity does not become liable for debts of the absorbed corporation.

d. The surviving entity obtains the absorbed corporation's assets, rights, powers, and privileges.

2. _______________ is an agency formed when individual misrepresents himself/herself as agent for another party, and principal accepts the unauthorized act

a. Expressed agency.

b. Power of Attorney.

c. Agency by Estoppel.

d. Agency by Ratification.

Reference no: EM131375101

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