Julian cornelia and sheila petitioned for a corporate, Ask an Expert

Management Studies

Julian, Cornelia, and Sheila petitioned for a corporate charter for the purpose of conducting a retail shoe business. They complied with all the statutory provisions except having their charter recorded. This was simply an oversight on their part, and they felt that they had fully complied with the law.

They operated the business for three years, after which time it became insolvent. The creditors desire to hold the members personally and individually liable. May they do so?

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Management Theories, Management Studies

Category:- Management Theories
Reference No.:- M92197296

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