Describe what the two proposed combinations are called

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Reference no: EM1370422

Gretz is the chair of the board of directors of Faraday, Inc., and Williams is the chair of the board of directors of Firebrand, Inc. Faraday is a manufacturing corporation, and Firebrand is a transportation corporation. Gretz and Williams meet to discuss the possibility of combining their corporations and activities into a single corporate entity. They consider two alternative courses of action: (1) Faraday acquires all of the stock and assets of Firebrand, or (2) The two corporations combine to form a new corporation, Farabrand, Inc. Both chairs are concerned about the necessity of a formal transfer of property, liability for existing debts, and the need to amend the articles of incorporation. Explain what the two proposed combinations are called, and discuss the legal effect each has on the transfer of property, the liabilities of the combined corporations, and the need to amend the articles of incorporation.

Reference no: EM1370422

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