Week 2 Corporate Law Revision

Description

Quiz on Week 2 Corporate Law Revision, created by Anna Maria on 01/03/2021.
Anna Maria
Quiz by Anna Maria, updated more than 1 year ago
Anna Maria
Created by Anna Maria about 3 years ago
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Resource summary

Question 1

Question
Entity shielding refers to...
Answer
  • the rules that protect the personal assets of a firm’s owners from the firm’s creditors
  • the rules that protect a firm’s assets from the personal creditors of the owners

Question 2

Question
What are the core features of a company?
Answer
  • legal personality
  • shared ownership
  • non-transferable shares
  • entity shielding
  • owner shielding
  • delegated management

Question 3

Question
It is impossible to lift (pierce) the corporate veil.
Answer
  • True
  • False

Question 4

Question
Shares in a company may be exchanged for a higher price than their face value.
Answer
  • True
  • False

Question 5

Question
In Germany delegated management consists of...
Answer
  • the supervisory board
  • the delegated board
  • the executive board

Question 6

Question
Private companies are easy to value as there is a lot of information about them openly available.
Answer
  • True
  • False

Question 7

Question
According to Salmon v Salmon the corporate personality principle and limited liability have the same meaning.
Answer
  • True
  • False
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