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All Jurisprudence based

0 tracked cards Commercial and Taxation Laws

A lawful close-corporation option gives existing holders thirty reasonable days to buy offered shares. They do not exercise it within the period. They then claim that the same expired option alone bars any third-party sale indefinitely. Which is correct?

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The seller must surrender shares for free Every option automatically lasts forever Section 97 permits a third-party sale after nonexercise; the expired option alone is not an indefinite veto. The corporation automatically owns the shares

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