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 66 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
Great answer, keep it coming :)

Missbam101

  • Member
  • Posts: 341
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

Did you know?

In women, pharmacodynamic differences include increased sensitivity to (and increased effectiveness of) beta-blockers, opioids, selective serotonin reuptake inhibitors, and typical antipsychotics.

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Common sites for the development of fibroid tumors Common sites for the development of fibroid tumors
Congruence among values, beliefs, and role requirements supports the development of empowered ... Congruence among values, beliefs, and role requirements supports the development of empowered ...
The early development of the mammalian brain illustrated in schematic horizontal sections. Compare ... The early development of the mammalian brain illustrated in schematic horizontal sections. Compare ...
Development Strategies Development Strategies
28 Fetus Development 28 Fetus Development
Development of the Nervous System: Transverse section Development of the Nervous System: Transverse section
Video: Apicomplexan life cycle Animation

For a complete list of videos, visit our video library