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Question About Legal |
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General Details |
| Title: |
Is this a legal corporation? How is the corporation form? Address (piercing the Corporate Veil) Are they liable? (#3496) |
| Category: |
Legal |
| Inquirer: |
Sconey |
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Initial Price: |
$25.00 |
| Description: |
Harvey Wheat and Harry Oats have come upon an entirely new way of growing and promoting natural grain food products. By having as many farm animals as possible use their fields as a place to relieve themselves naturally, they have found their grains to be supercharged with nature’s essences. They named their product Relievo Brand Inc. and decided to incorporate their new venture. They hired a recent law school graduate named Fossagium Fossa. All the common stock in the corporation was issued in the names of Harvey Wheat and Harry Oats equally. In addition, the boards of directors for the corporation were Harvey Wheat, Harry Oats, John Barley, Peter Hay, and Fossagium Fossa. All to them met at the Tofu Natural Eating and Drinking Club for their board meetings.
The Secretary of State informed Harvey and Harry that their product must first meet
Certain health inspection requirements before they could do business in the state of Georgia. Harvey and Harry took extreme offense at this insult to their farming expertise and chose simply to ignore this request. They ignored the inspection requirement and proceeded instead to grow and market their supercharged products at farmer’s markets all over the country. In addition, Relievo Brand, Inc. entered into numerous contracts with farm equipment suppliers. Seed companies and animal real agencies in order to get a timely start on the growing season. The contracts totaled $1 million.
Last week Relievo Brand Inc. Lost a big lawsuit to Calvin Calumny. It seems the Relievo Brand products were just too much for poor Calvin who lost his continence (ability to control one’s bladder and bowels) due to Harvey and Harry’s product‘s unique ingredients. Relievo Brand, Inc. Now seeks to liquidate and its creditors are seeking to collect against Harvey and Harry personally. Harvey, Harry, and the Board of Brand Inc. What results?
You are encouraged to offer a thorough explanation of possible results.
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| Question Expires: |
Question closed |
| End Time: |
2006-05-01 15:55:02 Started:
2006-04-30 12:26:46
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