Exam 16: The Corporate Form: Operational Matters

Which of the following would be outside of the general authority of directors with respect to their management of a corporate entity?

Which of the following is the most important factor contributing to a minority shareholder's ability to commence a derivative action?

In BCE v.1976 Debenture Holders,(2008)SCC 69,the court opined that the directors need to treat affected stakeholders fairly,commensurate with the corporation's duties as a responsible corporate citizen.Which of the following is a valid criticism of the Supreme Court's ruling in this matter?

The higher the position in an organization held by a director or managerial officer,the higher their fiduciary duty.

In order to find an absence of a legal impediment to Marion proceeding to pursue a corporate opportunity declined by the corporation in which she holds a fiduciary position,which of the following would a court most likely require?

A corporation's preferred shares generally carry the right to share in dividends,the right to vote,and a right to share in the proceeds on dissolution.

Which of the following must be used in order to circumvent the general powers of the directors of a corporation to manage or supervise the ongoing business and affairs of a corporation?

Which of the following would a law professor most likely indicate to be uncommon remedies available through common law and legislation to a corporation's minority shareholders?

What commercial inconvenience involving corporations was resolved by the abolition of the doctrine of constructive notice?

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

Which of the following would strongly support the avoidance of the imposition of strict liability for a statutory offence?

A court has examined evidence regarding how clearly an opportunity had been identified by a corporation and how close it was to acquiring the opportunity.Which of the following would a corporate litigation lawyer most likely indicate as being the subject the court was seeking to determine?

What is the authority an individual must possess to trigger an organization's criminal liability?

Which of the following is a requirement of the CSA rules with respect to corporate governance reforms?

The steps involved in winding up a corporation are relatively simple and straightforward,making it no more or less feasible than simply allowing a company to lapse.

Discuss the amendments to Canada's Criminal Code pertaining to the type of individuals who may trigger an organization's criminal liability.Include an explanation of the law prior to the amendments and the subsequent effects of the amendments.

Identify and briefly explain the amendments enacted by Bill C-45 to the level of fines that may be imposed on a corporation under Canada's Criminal Code,as a result of a positive finding of that corporation's criminal liability.

Ravi Inc.has been fined 10 percent of the amount it owed because it was the organization's first offence.Which of the following denotes the most likely offence Ravi has committed?

Which of the following is a commonly held characteristic of corporate opportunities?

The corporate practice of paying the litigation expenses of officers and directors for lawsuits related to corporate affairs is legally described by which of the following terms?