Fact Pattern 3-1 Ann starts up Bowls Bistro to serve and sell soups and salads. Ann leases space in an office building owned by Carly. The lease requires a base rent of $1,250, plus 10 percent of Bowls Bistro’s profits, each month. The term is two years. Ann hires Demi to take and fill customers’ orders at an hourly wage of $15.00, plus tips. Refer to Fact Pattern 3-1. Ann and Carly are

The shares of Home Mortgage Corporation are publicly traded in securities markets. Home Mortgage Corporation is

Every shareholder is entitled to examine specified corporate records, but only in person, not through an agent.

Every shareholder is entitled to examine specified corporate records, but only in person, not through an agent.

Express powers of a corporation can be found in state corporation statutes, as well as other documents.

A foreign corporation normally does not need a certificate of authority to sell goods or services via the Internet.

The incorporation of the town of Halfway, Oregon, is approved by the state. Halfway is

The franchise agreement may specify whether the premises for the business must be leased or purchased outright.

In a limited liability company, the management may consist of members or nonmembers, but not both.

In most states, a limited liability company can have only a limited number of members.