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Essay Multiple Choice

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All Jurisprudence based

0 tracked cards Commercial and Taxation Laws

Company C has a pending collection suit and unpaid receivables when it consolidates with D into newly formed E under a valid effective statutory consolidation. E claims it inherits only buildings, not choses in action or the ability to continue C's suit. Which is best?

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Receivables and other choses in action vest in E, and the pending claim may continue by E Every suit must be abandoned C's debtors automatically receive a gift Only buildings ever vest in a consolidated corporation

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