Multiple Choice
Fact Pattern 30-1
Ray is a shareholder of Small Biz Company (SBC) . When the directors fail to undertake an action to redress a wrong suffered by SBC, Ray files a suit on the firm's behalf.
-Refer to Fact Pattern 30-1. Any damages recovered by Ray's suit will go to
A) Ray.
B) SBC.
C) SBC's directors.
D) the state in which SBC is incorporated.
Correct Answer:

Verified
Correct Answer:
Verified
Q4: The ownership right to stock exists independently
Q6: If the corporate directors fail to sue
Q9: Generally,Sports Fitness Club Company and other corporations
Q14: Shareholders' meetings must occur at least annually.
Q24: Philip is elected as a director for
Q34: Ida,Jerzy,and Kit are the directors of Liberty
Q49: Corporate officers can usually be removed by
Q57: Thor Power Products Corporation permits its directors
Q58: If a director fails to use a
Q69: Cumulative voting refers to the accumulation of