Multiple Choice
Fact Pattern 41-2
Shale Oil Corporation combines its assets and debts with those of Tierra Frakking Company to form Unified Resources, Inc. Shale and Tierra cease to exist.
-Refer to Fact Pattern 41-2. Unified Resources assumes
A) all of Shale's and Tierra's debts.
B) half of Shale's and Tierra's debts.
C) none of Shale's and Tierra's debts unless there is a formal transfer of liability.
D) only debts that Shale and Tierra incurred after a combination was proposed.
Correct Answer:
Verified
Correct Answer:
Verified
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