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Question
Fact Pattern 40-3Atlantic Corporation's articles of incorporation prohibit a sale of its assets without a vote of the board of directors. Atlantic's officers sell some assets to Pacific Company without notice to the board. The officers also fail to pay Atlantic's taxes on time, and some Atlantic funds are not accounted for.
Refer to Fact Pattern 40-3. According to the court in Case 40.3, Colt v. Mt. Princeton Trout Club, Inc., the appropriate remedy is most likely
a. a sale of the rest of Atlantic's assets to its directors and shareholders.
b. Atlantic's consolidation or merger with Pacific.
c. Atlantic's dissolution.
d. payment of damages to Atlantic's officers.
Answer
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