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Question
To obtain the protection of the business judgment rule, a director must meet certain requirements in arriving at his/her decisions. He/she must:
A. make an informed decision; be free from conflicts of interest; and must have a rational basis for believing that the decision is in the best interests of the corporation.
B. make a subjectively rational decision that is based on a cost benefit analysis.
C. make an informed decision that promised to make the corporation a substantial profit; the decision need not be objectively rational, only subjectively rational.
D. use the court's business judgment for all of the corporation's matters.
Answer
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Related questions
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B. allows only the U.S. attorney general to sue for injunctive relief or the seizure of products to enforce various provisions of the act.
C. permits any private party to sue for an injunction to enforce any CPSC rule or order, if, at the time of the suit, the commission or the attorney general has begun an action based on the alleged violation.
D. allows those injured because of a knowing and willful violation of a CPSC rule or order to sue for damages if the amount in controversy exceeds $100,000.
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A. firearms
B. drugs
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The Holder in Due Course rule:
A. alters statutes of limitations or other state-created limitations on the consumer's enforcement of claims and defenses.
B. states that all defenses available to the purchaser against the seller can also be available against the holder in due course.
C. eliminates rights that the consumer may have as a matter of federal, state, or local law.
D. creates a warranty claim or defense where the product is sold "as is."
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The Equal Credit Opportunity Act:
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C. prohibits discrimination in credit transactions on grounds of sex, marital status, race, color, religion, national origin, and age.
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A. coinsurance clause
B. pro rata clause
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B. usually allows the insured to recover the difference between the limits stated in the policy and the fair market value of the property.
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A. the trust will automatically fail.
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Landlords attempt to limit their liability through exculpatory clauses.
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B. is a check drawn by a bank on an individual's funds.
C. is a draft on which the drawer or drawee are the same bank.
D. is a draft drawn by a bank on another bank or payable at or through a bank.