Multiple Choice
Fact Pattern 41-4
Diversified Corporation's articles of incorporation prohibit a sale of its assets without a vote of the board of directors. Diversified's officers sell some assets to Enterprise Company without notice to the board. The officers also fail to pay Diversified's taxes on time, and some Diversified funds are not accounted for.
-Refer to Fact Pattern 41-4. In these circumstances, the appropriate remedy is most likely
A) a sale of the rest of Diversified's assets to its directors and shareholders.
B) Diversified's consolidation or merger with Enterprise.
C) Diversified's dissolution.
D) payment of damages to Diversified's officers.
Correct Answer:
Verified
Correct Answer:
Verified
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