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1. Forms of Business Organizations - 20 points (800 words or fewer) Read slip Problem 1 on page 795 in the signal Text and address the fol natural depressioning questions. a. What legal arguments should the banks lawyers advance to trade name the three individual founders pay the lend? b. What legal arguments plenty the individual founders make to support their view that they should not be individually liable to pay the loan? Response low agency law, the banks lawyers should advise all three individual founders that apiece holder is considered to be liable based on the keep going loan agreement. The bank should also advise the founders that based on evidence that Cogen, Inc., is not considered to be a De Jure Corporation, businesses that bother been fully and legally chartered in accordance with the aliment and requirements of a given government (Bagley and Savage), their individualised assets sack up be garnished. In event, the Cogen , Inc., made the executive decision to no drawn-out deal with their initial law firm, Wilson Scott Associates who attempted the unquestionable in flock, save created a typographical error of identification the toilet Cogene rather of Cogen. Therefore, Cogen, Inc.

, is not an official incorporation and extracts them from universe De Facto Corporation, a company which operates as if it were a corporation although it has not immaculate the legal steps to become compound or has been fade out or suspended just continues to function. Arguments in which the individual founders can make to support their su bscribe to of the default in loan agreement,! would be to consider the concept of Corporation by Estoppel. This idea states that if a third fellowship (Firstloan) treats a business as a corporation, the third company cannot deny it is a corporation and try to reach shareholders personal assets. Since Firstloan determined that Cogen, Inc., was in fact a corporation and minded(p) a 5 gazillion dollar loan to the business, without properly verifying with the Secretary of...If you compliments to get a full essay, roam it on our website: BestEssayCheap.com

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