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I don’t know how to handle this Law question and need guidance.No outside sources are needed, all answers must based on chapter readings and use terms in the readings.————————————————————————————Instructions1. Provide an original post with your answers to the questions below and reply to at least two classmates. Do not upload a document.2. Do not repeat the questions in your post, but do number your answers.3. A complete answer post is several sentences in length, and will: (1) define and explain the correct legal terms, rules, and principles, (2) apply the legal rules and principles to the facts in the question, (3) state a conclusion, and (4) support the application and conclusion. See the rubric. If your answer is shorter than the question, this is a good clue that is it an insufficient legal answer. Working through the course materials to provide complete answers will also help you tremendously on the quizzes and final exam.4. A complete reply post is several sentences in length and adds something to the discussion. It does not merely state whether you agree or disagree. Remember, two replies are required for each discussion.5. Use all your own words! Properly cite words that are not yours.Questions1. Skip and Jack are the shareholders of the Blue Fish Event Corporation. Skip and Jack regularly put on classy events on or near the beach, so they have a special insurance policy to protect their assets. Business has been slow as fewer large beach weddings are taking place, so Skip and Jack use a large fan to blow down and damage most of their décor assets, some of which were personal assets of Skip and Jack, to collect the insurance benefits. Will a court allow Skip and Jack recover the insurance money? Is this a situation where the corporate veil may be pierced? Why or why not? What would it mean for Skip and Jack if the corporate veil is pierced in this situation?2. Benny, Carrie, and Dale are the promoters hired by a small group of investors to find preincorporation stock subscriptions and then deliver the articles of incorporation to the secretary of state. Benny and Carrie are diligent and secure many investors and sign the articles, but Dale failed to sign the articles before turning them in. The mistake is not noticed, and the corporation, ZZZ Biz, begins operations. Would the corporation be considered a de jure or a de facto corporation? Why? After a few weeks of operation, ZZZ Biz fails to pay several creditors, who swiftly file suit to recover their money. Will the creditors be able to use the doctrine of corporation by estoppel to sue the corporation? Why or why not? What did Dale do wrong in this situation, and can it be corrected?3. Widget Corporation is the manufacturer of many popular children’s toys but have seen a great decrease in sales and the board of directors is worried that the business may no longer be viable. The board decides to aggressively sue other toy manufacturers that have likely been infringing on Widget’s intellectual property, enter into a joint venture with a another company to build a new factory to reduce costs, and make large and notable donations to children hospitals as part of a PR campaign to raise the corporation’s image. Additionally, the board decides to start manufacturing medical equipment to make up for the projected shortfalls in budget, even though the corporation was formed to make toys. Some shareholders are upset and sue the board of directors. Which of the board’s actions fall into their express power and which are their implied power? Please explain why the actions would be categorized that way. Would the ultra vires doctrine play a role in the shareholders suit again the board? Why or why not?4. Harry, Ron, Ginny and Draco are the board of directors for the Magical Care Corporation. As a group, the board has been discussing a sale of the corporation as they are all losing interest in the intricate mechanisms that the corporation is responsible for making and maintaining. The board decides to sell to the first investor, who has offered below market price. Further, Draco and Ginny sought out this investor and made sure to keep other potential buyers away, as they would receive a bonus with their investor. Have any of the board members violated any of their duties to the corporation? If so, how did the board members violate their duties? What should have the board have done instead?Reading:Chapter 21…Chapter 23…lmk if you can not access to the readings. Requirements: no limit


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