Generally, a President of a corporation does not have the authority to do any of the following except:
A) make a long-term employment contract.
B) mortgage corporate property.
C) call a special meeting.
D) execute commercial paper in the name of the corporation.
Question 2
Which of the following is an incorrect statement about officers?
A) Their duties are generally set forth in the corporation's bylaws.
B) They have a fiduciary obligation to the corporation.
C) They are agents of the corporation.
D) Their authority as agents is increased if they are shareholders.
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