Multiple Choice
Which of the following is an incorrect statement about officers?
A) Their duties are generally set forth in the corporation's bylaws.
B) They have a fiduciary obligation to the corporation.
C) They are agents of the corporation.
D) Their authority as agents is increased if they are shareholders.
Correct Answer:
Verified
Correct Answer:
Verified
Q3: Ping was the president and chairman of
Q4: Under the responsible corporate officer doctrine a
Q5: Although officers may be agents of the
Q6: A manager who is directly responsible for
Q7: The business judgment rule is a defense
Q9: Extraordinary matters requiring shareholder votes include all
Q10: The sale of corporate assets outside the
Q11: If an officer diverts a corporate opportunity,
Q12: A corporation is liable to a third
Q13: A director is disqualified from taking part