Exam 39: Corporations: Directors, officers, and Shareholders

Patrice is a shareholder in a corporation but she cannot attend the corporate meeting.She wants to authorize someone else to vote for her.What authorization should she create?

The primary goal of shareholders is to raise the value of the company stock.

When the corporation will not issue physical stock certificates,shares are ________.

A stock subscription agreement signed before incorporation may obligate a person to purchase shares in the corporation.

Lydia is a director of a company that develops expensive residential subdivisions.The company is considering purchasing a large section of land on which to put a development.Lydia happens to own some of the land.What duty,if any,does she have regarding disclosure? Also discuss what steps,if any,should be taken by the board when considering the matter,and why,or why not they should take those steps.

By selling the kites,Tatiana was involved in which of the following objectionable activities,if any?

Which of the following is false regarding the liability of directors and officers for criminal behavior in the U.S.?

Decisions of courts in ________ have a significant impact because more than half of U.S.public traded corporations are incorporated there.

If corporate directors fail to sue when the corporation has been harmed by an individual,another corporation,or a director,individual shareholders can file a[n] ________ on behalf of the corporation.

A director of the corporation has embezzled money from the company.The other corporate directors fail to sue.What should the shareholders do?

Who can call a special shareholder meeting?

Which of the following is a term for stock issued to individuals below its fair market value?

Which of the following is NOT true of cumulative voting?

Hans receives a dividend from his closely held corporation,causing the company to go insolvent.He was aware of the fact that the dividend would result in insolvency.Which of the following is true?

Directors and officers have a fiduciary duty of care.

Which of the following is true regarding the Revised Model Business Corporation Act?

Which of the following is NOT within the primary role of directors?

The French Penal Code adopts what is called the ________ which requires that corporate criminal liability be applied only in cases that pertain to an "express mention in the law or in a French regulation."

For purposes of shareholders meetings,what is considered a majority vote?

Which of the following are outside directors who have business contacts with the corporation?