Exam 16: The Corporate Form: Operational Matters

Under what circumstances would a court "lift the corporate veil"?

The preferred shares of a corporation typically carry the priority right to the distribution of dividends and the proceeds on dissolution.

A shareholder who is unable to attend a meeting can exercise voting power through a proxy.

A dispute has arisen among the various factions of shareholders over the proposed change of name of SunEnergy4U Inc.,a publicly traded company.What would a corporate lawyer believe to be important to each of the competing shareholder groups?

A promoter is an individual who participates in setting up a corporation.

What factor would a court now consider when setting fines since the new amendments to the Criminal Code were made?

Briefly discuss the distinction between common shares and preferred shares.

Ingel is a director in MIV Inc.,a large,successful software development company.He entered into a contract involving the sale of software he developed to MIV Inc.In law,this is a self-dealing contract.Why is it enforceable?

Isabella and Emily both attended a recent seminar for directors regarding corporate governance.The seminar focused on the recent departure of certain courts from the traditional shielding of directors from personal liability where their actions were taken in furtherance of their duties to the company and their conduct was justifiable.What type of liability are Emily and Isabella concerned with?

Which of the following would be NOT be a responsibility of the directors of a corporation?

What is the most important factor contributing to a shareholder's decision to exercise her pre-emptive right?

What is most likely to be the result if a corporation fails to file its annual corporate returns?

A corporate opportunity is a contract in which an officer of the corporation has an interest.

A pre-emptive right gives a shareholder a preferred right to be paid dividends.

Identify and briefly explain the factors that a court must consider when setting fines or imposing other penalties on a corporation found to be responsible for the commission of a criminal offence.