Unless a corporation’s articles of incorporation provide otherwise, the purpose clause for a corporation by default is:

Straight voting permits a single holder of more than 30 percent of the shares of a corporation to dominate the management of the corporation.

The _____ requires periodic shareholder approval of executive compensation.

What is meant by rational basis?

In the case in the text, Coggins v. New England Patriots Football Club, Inc., the court held that:

Which officer of the corporation has custody of the corporation's funds?

The ultra vires doctrine states that:

Generally, under the doctrine of respondeat superior, a corporation is liable for an employee's tort that is reasonably connected to the authorized conduct of the employee.

The ______ recognizes that directors may be conflicted by their interest in saving their jobs, yet it allows directors to oppose the takeover if they mostly are concerned about protecting the company from the takeover’s threat to the company’s polici

Which of the following is correct concerning the management of close corporations?

After a merger, the first corporation remains liable for its debt.

Only those shareholders who sign a shareholder voting agreement are bound by it.

A corporation's sale of substantially all of the assets of the business must be approved by its shareholders.

Camm Corp. has 10,000,000 common shares outstanding. Its four directors are elected by cumulative voting. To elect one director, a shareholder must own at least:

In Montgomery Cellular Holding Co., Inc. v. Dobler, the case in the text, the court applied the ______ test to review competing valuations of minority shares.

Most state statutes and the Model Business Corporation Act (MBCA) provide that a quarterly meeting of shareholders shall be held.

Some courts have held that certain shareholders are fiduciaries of each other. These are shareholders of:

If a shareholder is successful in a derivative suit, she is entitled to a reimbursement of her reasonable litigation expenses paid by:

Repurchase of _____ shares by a corporation is involuntary on the shareholder's part.

Distributions of a corporation’s assets received by a shareholder with knowledge of their illegality may be recovered on behalf of the corporation.

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