Blue Ltd. offered to sell common shares on a subscription basis. Each subscription allowed for the purchase
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Blue Ltd. offered to sell common shares on a subscription basis. Each subscription allowed for the purchase of 12 shares at a price of $80 per share. Terms of the subscription stated that subscribers were to pay 35% of the price as a down payment, with the remainder due in six months. On June 1, 2020, 110 subscriptions were sold. Six months later, on December 1, only 55 of the subscriptions were fully paid for. According to the subscription contract, the company would retain the down payment on any defaulted subscriptions.
Related Book For
Dynamic Business Law The Essentials
ISBN: 978-0073524979
2nd edition
Authors: Nancy Kubasek, Neil Browne, Daniel Herron
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