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baherus
1 month ago
9

On July 1, 2015, ABC company filed its Articles of Incorporation with the State of California. All of their correspondence and c

ontracts list ABC as ABC Inc. On July 10th, XYZ Inc. sues ABC for breach of contract. Then on July 20th, ABC gets notice from the State of California that their Articles of Incorporation have been rejected. ABC forgot to list its Registered Agent on the forms. How is ABC going to be treated in the lawsuit filed against them by XYZ Inc
Business
1 answer:
Free_Kalibri [3.7K]1 month ago
5 0

Response:

Clarification:

When the ABC company submitted its Articles of Incorporation to the State of California, they intended to operate as ABC Inc., which implies corporation status with limited liability.

However, if a lawsuit is initiated by XYZ Inc. for breach of contract, and considering that XYZ has filed this case against ABC, the company will shift to being recognized as a partnership subject to unlimited liability. This change occurs because ABC has received notification from the State of California indicating that their Articles of Incorporation were not accepted due to the omission of their Registered Agent on the application forms.

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Answer:

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Explanation:

given data

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solution

The setup cost is calculated as

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Plugging in the values,

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Next,

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