Shareholders in corporations and limited partners in limited partnerships have liability limited to the sum they invested in the business, even for tort liability.
a. True
b. False
Indicate whether the statement is true or false
Question 2
In Todd v. Exxon Corp, where Exxon other oil companies hired a consultant to gather information about the salaries they paid professionals at the companies, and the information was used to help set salaries, the appeals court held the practice was:
a. illegal because there is a per se rule against sharing price information among competitors b. illegal if the sharing of information produced anticompetitive effects in salaries
c. legal because the information was shared openly, so there could be no conspiracy d. legal because an outsider collected the information, not the firms themselves
e. none of the other choices
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