Copr

10 Questions  I  By Badalbert
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1.  Preemptive rights entitle shareholders to bring a derivative suit against the corp.
A.
B.
2.  An officer is a fiduciary of a corp.
A.
B.
3.  Directors, but not officers owe a duty of loyalty to the corp
A.
B.
4.  A corp. is liable for the torts of its officers commited within the course and scope of employment
A.
B.
5.  Generally, shareholders are not personaly responsible for the debts of the corp.
A.
B.
6.  The business judgment rule makes a director liable for losses to the firm in most cases.
A.
B.
7.  In some states, a close corporation can operate without formal share holders or directors' meetings
A.
B.
8.  Damages recovered in a shareholders derivative suit are paid to the shareholder who filed the suit
A.
B.
9.  State corp laws are entirely uniform.
A.
B.
10.  Only certain funds are legally available for paying dividends
A.
B.
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