Author Question: The Revised Act states that all corporate powers shall be exercised by or under the authority of, ... (Read 28 times)

jCorn1234 · **on:** Jun 24, 2018

The Revised Act states that all corporate powers shall be exercised by or under the authority of, and the business and affairs of the corporation managed under the direction of :
A) the shareholders of the corporation.
B) the chief executive officer of the corporation.
C) the officers of the corporation.
D) the board of directors of the corporation.

Question 2

The Restatement and the Code have made the traditional test of objective impossibility more stringent by requiring that the performance must be actually or literally impossible.
Indicate whether the statement is true or false