Instructions: Fill in the Blanks Using the Words Below co 1. John-Boy Walton decides to incorporate his warehouse store business in Michigan. To do so he must file with the State 2. Although he'll lose some control, John-boy understands he must sell and let other people own part of the business. Still, if he of stock, he'll keep control. retains the 3. One great thing about the new corporation, Walkmart. Inc., John-Boy thinks, is that it will be his legacy because it will have existence, 4. Johnny Cochran, John-Boy's lawyer, drafts the corporate establishing the structure of the business. 5. John-Boy sells to his siblings. (Jason, Mary-Ellen, Erin, Benjamin, Jim-Bob, and Elizabeth) so that they can vote, and to his parents (John Sr. and Olivia) will be the first in line to receive 6. Unfortunately, because Walkmart, Inc. is a profits will be taxed twice: once to the corporation and then again when distributed to shareholders. 7. John-Boy decides to expand the business and purchase a publishing company Johnny Cochran recommends he issue so that the number of shareholders are limited, but John-Boy doesn't want to incur more Focus Layout References Mailings 8. Because there was a at the shareholders formally voted that Johnny Cochran would sit on the Board of Directors with John-Boy, John Sr. and Olivia the 1 9. At their the Board appoints John-Boy President. They also decide not to declare a dividend because there are not enough with and 10. As President, John-Boy is an to enter into contracts 11. John-Boy incorporates the publishing house using Walmart money and its employees to help with the legwork. When Erin finds out, she accuses him of violating his 12. John-Boy defends himself by claiming he made a rational informed decision and is therefore protected by the 13. Erin sues John-Boy on behalf of the corporation in a Englih med MACBOOK 80 DU 1 Y A $ 4 % 5 & 7 6 3 8 9 0 W E R T U Y S K J L H G D F Laut Malinge Review View Time 12. John-Boy defends himself by claiming he made a rational informed decision and is therefore protected by the 13. Erin sues John-Boy on behalf of the corporation in a lawsuit, alleging he acted 1 Articles of Incorporation Business Judgment Rule Implied Power debt ultra-vires Retained Earnings preferred stock dividends taxable entity bonds fiduciary duty Derivative Annual Meeting of Shareholders Annual Meeting of Directors shares of stock majority common stock Express Powers bylaws quorum perpetual En United MacBook 00 DD & 7 3 4 5 6 0 8 9