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Question
A partner's profit from a partnership is taxed as income to the firm.Answer
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A borrower has the right to purchase the property after default by paying the full amount of the debt, plus any interest and costs that have accrued.
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A borrower has a right to rescind a mortgage within three business days.
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For action to be taken during a shareholders' meeting, a quorum must be present.
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The article of corporation cannot exclude shareholders' voting rights.
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A board of directors can delegate some functions to corporate officers.
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Directors are rarely compensated, but when they are, they can set their own compensation.
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A director usually serves on a corporation's board for a life term.
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An individual director does not act as an agent to bind the corporation.
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Pumping up a company occurs when a single person using multiple aliases on an online forum creates the illusion of widespread interest in a stock.
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"Forward-looking" financial forecasts are prohibited under SEC Rule 10b-5.
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The Securities Exchange Act of 1934 provides for continuous, periodic disclosures by publicly held corporations.
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An employer with fewer than fifteen employees is automatically shielded from federal employment discrimination laws.