True/False
Under the majority rule,an unsuspecting shareholder who receives an illegal dividend from a solvent corporation cannot be compelled to refund the dividend.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q8: Phoenix Corporation purchases 1,000 shares of its
Q9: In some states,preemptive rights do not apply
Q10: Shareholders have residual authority over increases in
Q11: The statute which contains the rules applicable
Q12: If 100 shares of $50 par value
Q14: In which of the following ways do
Q15: Harry bought preferred noncumulative stock on which
Q16: A stock split results in a larger
Q17: Dividends paid in stock of the corporation
Q18: Which of the following is not a