Question 13 (1 point)

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A guarantee:

Question 13 options:

	none of the above
	is enforceable
	must be in writing
	need not be in writing

Question 14 (1 point)

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The declaration of dividends:

Question 14 options:

	is done by a resolution of the majority of shareholders
	is done by a resolution of the Board of Directions
	is done by the accountant/auditor of the corporation
	is done by a resolution of the shareholders

Question 15 (1 point)

Using another person's land for a period of at least 20 years may give a landowner:

Question 15 options:

	a restrictive covenant
	a fee simple estate
	an easement by prescription
	a life estate

Question 16 (1 point)

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The famous corporate case Salmon v. Salmon & Co Ltd. stands for the legal principal that:

Question 16 options:

	the corporation is a distinct separate legal personality from the shareholders of the corporation
	a director is a creditor of the corporation
	a shareholder owes no duty to the corporation
	a shareholder owes no duty to other shareholders