This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: John is a member of the board for his condominium development. John has missed 8 of the last 12 ... (Read 99 times)

APUS57

  • Hero Member
  • *****
  • Posts: 571
on: Jun 24, 2018
John is a member of the board for his condominium development. John has missed 8 of the last 12 board meetings. The other board members have missed at least 50 of the meetings. The board did not hire an accountant to review the financial reports of the condo manager. Eighteen months after John took his position on the board, an accountant was retained to examine the books of the condo development. The accountant discovered that the manager had embezzled 250,000. Which of the following statements is correct?
 A) The board members can be held liable for the missing amount if the condo owners are able to establish a violation of the business judgment rules.
 B) Condo board members are immune from liability.
 C) The business judgment rule does not apply to condo boards.
 D) The board members can be held liable only for gross negligence.

Question 2

Shares exist for only as long as the corporation exists.
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

lorealeza77

  • Sr. Member
  • ****
  • Posts: 356
Reply #1 on: Jun 24, 2018
Answer to Question 1

A

Answer to Question 2

TRUE


APUS57

  • Member
  • Posts: 571
Reply 2 on: Jun 24, 2018
Wow, this really help

vickyvicksss

  • Member
  • Posts: 351
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

Asymmetrical localization of gene products during egg development in Drosophila Asymmetrical localization of gene products during egg development in Drosophila
Development of the human brain. Development of the human brain.
John Richardson John Richardson
Thomas Hobbes, John Locke, John Rawls Thomas Hobbes, John Locke, John Rawls
Development of Muscle Development of Muscle
Development of the Heart Development of the Heart
Video: Enzyme-Catalyzed Reactions

For a complete list of videos, visit our video library