For this assignment, you will consider the circumstances in which a corporation may be dissolved, either voluntarily or involuntarily.<\/p>\n
By successfully completing this assignment, you will demonstrate your proficiency in the following course competencies and assignment criteria:<\/p>\n
Analyze Business Case 41-5, “Dissolution,” located on page 814 of your textbook. Prepare a professional-caliber brief on the case.<\/p>\n
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41\u00e2\u20ac\u201c5. Dissolution.<\/strong> Clara Mahaffey operated Mahaffey’s Auto Salvage, Inc., in Dayton, Ohio, as a sole proprietorship. In 1993, Kenneth Stumpff and Mahaffey’s son, Richard Harris, joined the firm. Stumpff ran the wrecker and bought the vehicles for salvage. Harris handled the day-to-day operations and the bookkeeping. They became the company’s equal 50 percent shareholders on Mahaffey’s death in 2002. Harris, who inherited the land on which the firm was located, increased the rent to $1,500 per month. Within two years of Mahaffey’s death, and without consulting Stumpff, Harris raised the rent to $2,500. Stumpff’s wife died, and he took a leave of absence, during which the company paid him $2,500 a month and provided health insurance. After two years, Harris stopped the payments, discontinued the health benefits, and fired Stumpff, threatening to call the police if he came on the premises. Stumpff withdrew $16,000 from the firm’s account, leaving a balance of $113. Harris offered to buy Stumpff’s interest in the business, but Stumpff refused and filed a suit in an Ohio state court against Harris. A state statute permits the dissolution of a corporation if the owners are deadlocked in its management. Should the court order the dissolution of Mahaffey’s? Why or why not? [Stumpff v. Harris,<\/i> 2006 WL 2640232 (Ohio App. 2006)] (Clarkson 814)<\/p>\n Clarkson, Kenneth W. Business Law: Text and Cases, 13th Edition<\/i>. Cengage Learning, 20140101. VitalBook file.<\/p>\n The citation provided is a guideline. Please check each citation for accuracy before use.<\/p>\n <\/p>\n Based on the case information provided:<\/p>\n To support your brief:<\/p>\n Dissolution Introduction For this assignment, you will consider the circumstances in which a corporation may be dissolved, either voluntarily or involuntarily. By successfully completing this assignment, you will demonstrate your proficiency in the following course competencies and assignment criteria: Competency 2: Recognize the various forms, requirements, and limitations of business organizations. Explain the requirements to […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_joinchat":[]},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts\/15399"}],"collection":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/comments?post=15399"}],"version-history":[{"count":0,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts\/15399\/revisions"}],"wp:attachment":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/media?parent=15399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/categories?post=15399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/tags?post=15399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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Additional Requirements<\/h4>\n
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