In Ironite Products v. Samuels, where a major shareholder (Samuels) of Ironite sued, contending the bylaws had been violated, the appeals court held that:
a. the bylaws had been violated because the Companies' bylaws did not clearly sanction the Board of Directors to manage the business and affairs of the company
b. the bylaws had been violated because the Companies' bylaws clearly sanctioned the Board of Directors to manage the business and affairs of the company
c. the bylaws had not been violated because the Companies' certificate of incorporation clearly sanctioned theBoard of Directors to manage the business and affairs of the company
d. the bylaws were never properly approved and so there was no case for violation of bylaws e. none of the other choices are correct
Question 2
It costs an average of about a billion dollars to develop one new drug and clear all FDA rules before marketing the product.
a. True
b. False
Indicate whether the statement is true or false
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