Multiple Choice
Arthur is a shareholder of Rowson, Inc.He has evidence to suggest that its president/CEO has allowed the corporation to engage in acts that are ultra vires .Based upon this evidence, Arthur contacts an attorney and sues the corporation on behalf of the corporation.The lawsuit Arthur has filed is known as:
A) an unauthorized suit.
B) a direct suit.
C) a derivative suit.
D) a class action suit.
Correct Answer:
Verified
Correct Answer:
Verified
Q11: The percentage of shares required for a
Q16: A shareholder has no right to dissent
Q25: Directors may vote by proxy when they
Q33: Determining the names of other shareholders in
Q36: The board of directors of a corporation:<br>A)
Q54: The Investor Protection and Securities Reform Act
Q67: Directors who are also officers or employees
Q81: Under the Revised Act and an increasing
Q92: Unissued shares and treasury stock must be
Q101: The business judgment rule would require an