[Anonymous]

There are two questions I’m not sure if answer is correct in the Wiley Test Bank::

1. Reilly has agreed to purchase some stock of Jansen Corporation. Which of the following types of consideration or value is(are) sufficient to purchase this stock?

I. Services already performed by Reilly.

II. Services promised by Reilly to be performed at a later date.

III. Negotiable promissory note to pay cash.

The answer per wiley is I, III

However, I would assume it would be all I,II,III, per their notes ::

Valid consideration or value for shares can be any benefit to corporation

(1) Including cash, property, services performed, intangible property, promissory notes, other securities, or services contracted to be performed in future

The consideration for the issuance of shares by a corporation may not be paid in

---

A. Tangible property.

B. Intangible property.

C. Services to be performed for the corporation.

D. Services actually performed for the corporation.

The answer per Wiley is B, however, per what I posted before it seems all these are wrong answers?

Unless the second one is that the corporation can not pay another corporation in intangible property for the issuance of shares?

Maybe I’m reading the questions wrong?

Any help would greatly be appreciated