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Question
If Drake, a shareholder of Sweet Corp., feels that he has been deprived of the right to purchase some of the corporation's newly issued stock, he:
A. may bring a derivative suit against Sweet's corporate manager.
B. may bring a direct suit against Sweet's corporate manager.
C. may bring both a derivative suit and a direct suit against Sweet's corporate manager.
D. has no legal recourse against Sweet's corporate manager.
Answer
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Related questions
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B. Writ of replevin
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Turban, an immigrant who speaks little English, enters into a contract to pay $300 per month for ten years to purchase an auto from Travel Motor Co. The appraised retail value of the car is $5000. What legal remedy would release Turban from his contract?
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A. Oral contracts can occur between merchants and consumers for sale of good of $500 or more.
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In a shipment contract, risk of loss does not pass from the seller to the buyer until the buyer receives the goods.
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A sale of goods contract offer is silent concerning the method of acceptance. It may be accepted in any reasonable manner.
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D. speculative damages.
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B. substantial performance.
C. abandonment of contractual obligations.
D. a repudiation of contract.