Copr

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