LAW 122 Lecture Notes - Lecture 25: Ryerson University, Sole Proprietorship, Golf Cart
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Right to dividends only when declared by the board of. Right to residual value, after preferred shareholders are paid. Right to receive fixed dividends at regular intervals. Right to be repaid on dissolution before the balance of the residual value is distributed to the other shareholders. No right to elect directors case study: it"s app to happen . Tim and elsa have taken some classes together at ryerson. During one of their study sessions, they came up with a terrific idea for a new app. They decided to work together to develop the app. Elsa agreed to take the lead on the programming for the app, while tim took responsibility for the marketing. Aside from agreeing to this division of labour and agreeing to split any profits 50-50, tim and elsa did not write anything about their arrangement down. After several months of hard work, they were close to being able to launch their app.
