Legal Studies

5 years ago

Shareholder resolutions cannot be made when a corporation is soliciting proxies from its shareholders.

Shareholder resolutions cannot be made when a corporation is soliciting proxies from its shareholders.
[True or False]

baby_d 33 3 Replies

5 years ago

A shareholder can only submit a resolution to be considered by other shareholders if he or she has ...

A shareholder can only submit a resolution to be considered by other shareholders if he or she has one percent or more of the total shares of the company.
[True or False]

baby_d 24 2 Replies

5 years ago

Shareholders are permitted to submit issues for a vote to other shareholders.

Shareholders are permitted to submit issues for a vote to other shareholders.
[True or False]

ven90 41 1 Reply

5 years ago

Explain the factors that lead to a proxy contest. What is its outcome?

ven90 28 2 Replies

5 years ago

In a proxy contest, only the incumbent directors are permitted to solicit proxies from shareholders.

In a proxy contest, only the incumbent directors are permitted to solicit proxies from shareholders.
[True or False]

ven90 34 2 Replies

5 years ago

A proxy contest is one in which incumbent directors are impeached.

A proxy contest is one in which incumbent directors are impeached.
[True or False]

baby_d 55 2 Replies

5 years ago

Courts are permitted to order a new election in case of fraudulent proxy solicitation.

Courts are permitted to order a new election in case of fraudulent proxy solicitation.
[True or False]

timmies 61 1 Reply

glendy

5 years ago

Section 14(a) of the Securities Exchange Act prohibits omissions of material facts in proxy materials.

Section 14(a) of the Securities Exchange Act prohibits omissions of material facts in proxy materials.
[True or False]

ven90 28 1 Reply

5 years ago

Section 14(a) of the Securities Exchange Act prohibits the solicitation of proxies.

Section 14(a) of the Securities Exchange Act prohibits the solicitation of proxies.
[True or False]

timmies 33 2 Replies

5 years ago

A friendly merger of two corporations is not considered an acquisition.

A friendly merger of two corporations is not considered an acquisition.
[True or False]

baby_d 49 2 Replies

5 years ago

Shareholder approval is not required to make any changes in a corporation.

Shareholder approval is not required to make any changes in a corporation.
[True or False]

baby_d 30 2 Replies

5 years ago

Mr. Davidson, who owns 17 percent of his company's shares, is displeased with the six incumbent ...

Mr. Davidson, who owns 17 percent of his company's shares, is displeased with the six incumbent directors of the corporation. He proposes a slate of directors consisting of five other persons and himself to become members of the board of directors of

baby_d 59 3 Replies

glendy

5 years ago

The federal proxy rules promote ________ during proxy solicitation.

The federal proxy rules promote ________ during proxy solicitation.
A) full disclosure of the proxy
B) forfeiture of shares
C) meeting of all shareholders
D) direct representation of shareholders

ven90 80 2 Replies

5 years ago

Which of the following is true of proxies?

Which of the following is true of proxies?
A) Proxies are not permitted to be submitted electronically.
B) Proxies are signed by a corporation and sent to shareholders.
C) Directors or officers of a corporation cannot hold proxies.
D) Corporation

ven90 29 2 Replies

5 years ago

A(n) ________ refers to a written document signed by a shareholder that authorizes another person to ...

A(n) ________ refers to a written document signed by a shareholder that authorizes another person to vote the shareholder's shares.
A) deputation
B) proxy
C) easement
D) title

timmies 49 2 Replies

5 years ago

The Sarbanes-Oxley Act requires the chief executive officer (CEO) and chief financial officer (CFO) ...

The Sarbanes-Oxley Act requires the chief executive officer (CEO) and chief financial officer (CFO) to certify annual and quarterly reports.
[True or False]

baby_d 75 2 Replies

5 years ago

The Sarbanes-Oxley Act contains provisions for prosecuting U.S. firms that bribe foreign officials.

The Sarbanes-Oxley Act contains provisions for prosecuting U.S. firms that bribe foreign officials.
[True or False]

ven90 70 3 Replies

5 years ago

According to the Sarbanes-Oxley Act, members of the audit committee must be members of the board of directors.

According to the Sarbanes-Oxley Act, members of the audit committee must be members of the board of directors.
[True or False]

ven90 57 2 Replies

5 years ago

The ________ Act is a federal statute enacted by Congress to improve corporate governance.

The ________ Act is a federal statute enacted by Congress to improve corporate governance.
A) Brown-Kaufmann
B) Lanham
C) Glass-Steagall
D) Sarbanes-Oxley

baby_d 87 1 Reply

5 years ago

Courts will pierce the corporate veil if the corporation has been formed with sufficient capital.

Courts will pierce the corporate veil if the corporation has been formed with sufficient capital.
[True or False]

timmies 24 2 Replies

5 years ago

The piercing the corporate veil doctrine is also called the alter ego doctrine because it may be ...

The piercing the corporate veil doctrine is also called the alter ego doctrine because it may be used when the corporation becomes the alter ego of the shareholder.
[True or False]

timmies 32 2 Replies

5 years ago

A director who personally competes with the corporation he or she is employed in is said to have ...

A director who personally competes with the corporation he or she is employed in is said to have breached the duty of obedience.
[True or False]

baby_d 31 2 Replies

5 years ago

Self-dealing is when shareholders use their position to deprive the board of directors of personal ...

Self-dealing is when shareholders use their position to deprive the board of directors of personal monetary gain.
[True or False]

baby_d 21 2 Replies

5 years ago

To prove usurping by a director or an officer, a corporation must have the financial ability to take ...

To prove usurping by a director or an officer, a corporation must have the financial ability to take advantage of the usurped opportunity.
[True or False]

ven90 29 2 Replies

5 years ago

Usurping a corporate opportunity is a breach that can only be committed by a shareholder.

Usurping a corporate opportunity is a breach that can only be committed by a shareholder.
[True or False]

ven90 50 1 Reply

5 years ago

The secret profits obtained by a director or officer cannot be recovered by a corporation.

The secret profits obtained by a director or officer cannot be recovered by a corporation.
[True or False]

timmies 28 1 Reply

5 years ago

The duty of loyalty requires directors and officers to subordinate their personal interests to those ...

The duty of loyalty requires directors and officers to subordinate their personal interests to those of the corporation and its shareholders.
[True or False]

baby_d 60 2 Replies

5 years ago

Marshall is the purchasing agent for DigitoolArt Corporation. His job requires him to negotiate and ...

Marshall is the purchasing agent for DigitoolArt Corporation. His job requires him to negotiate and execute contracts for purchasing office supplies and equipment for the corporation. Assume that Bronson, a computer salesperson, pays Marshall a $20,0

ven90 45 3 Replies

5 years ago

Give an account of the directors' and corporate officers' duty of care toward the corporation.

ven90 52 1 Reply

5 years ago

The determination of whether a corporate director or officer has met his or her duty of care is ...

The determination of whether a corporate director or officer has met his or her duty of care is measured in hindsight.
[True or False]

timmies 43 2 Replies

5 years ago

The business judgment rule protects shareholders for honest mistakes of judgment.

The business judgment rule protects shareholders for honest mistakes of judgment.
[True or False]

timmies 54 3 Replies

5 years ago

If a fraud is committed by a member of the board of directors of a corporation, a written notice to ...

If a fraud is committed by a member of the board of directors of a corporation, a written notice to the corporation from individual shareholders is not required to bring a derivative lawsuit.
[True or False]

ven90 30 1 Reply

5 years ago

A corporation cannot ratify an unauthorized act committed by its corporate officer.

A corporation cannot ratify an unauthorized act committed by its corporate officer.
[True or False]

baby_d 47 2 Replies

5 years ago

Public companies are exempt from the requirement of corporations to have audit committees.

Public companies are exempt from the requirement of corporations to have audit committees.
[True or False]

baby_d 19 3 Replies

5 years ago

Once the number of board of directors is fixed by the articles of incorporation, the number cannot be amended.

Once the number of board of directors is fixed by the articles of incorporation, the number cannot be amended.
[True or False]

baby_d 17 2 Replies

5 years ago

Once declared, a cash or property dividend cannot be revoked.

Once declared, a cash or property dividend cannot be revoked.
[True or False]

baby_d 24 2 Replies

5 years ago

Persons who are shareholders on the record date are entitled to receive the dividend, even if they ...

Persons who are shareholders on the record date are entitled to receive the dividend, even if they sell their shares before the payment date.
[True or False]

timmies 35 2 Replies

5 years ago

Shareholders are responsible for determining how much will be paid in dividends.

Shareholders are responsible for determining how much will be paid in dividends.
[True or False]

timmies 35 3 Replies

5 years ago

Dividends are a distribution of corporate profits to shareholders.

Dividends are a distribution of corporate profits to shareholders.
[True or False]

timmies 40 2 Replies