Moe, Larry, and Carl form a corporation, Stooges Ltd. They are the only shareholders. They die together in a plane crash
David Addison, a creditor of Stooges Ltd., brings an action against the corporation, but does not obtain judgment until after the three shareholders die. He is advised by his lawyer that Stooges Ltd. is now insolvent. Which of the following is true?
A) Addison may enforce his judgment against the estates of Moe, Larry, and Carl, or any of them.
B) Addison may bring a fresh action against estates of Moe, Larry, and Carl, or any of them.
C) Addison is stuck with his worthless judgment against the corporation.
D) Stooges Ltd. ceased to exist upon the death of its only shareholders.
E) Both A and D
C
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