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Author Question: If a corporation were wronged by negligent and fraudulent acts committed by one of its directors and ... (Read 126 times)

elizabeth18

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on: Aug 7, 2021
If a corporation were wronged by negligent and fraudulent acts committed by one of its directors and consequently suffered a $45 000 loss, and if the board of directors will not take any action on behalf of the corporation against the wrongdoer, which of the following would be true?
◦ The shareholders could proceed under the "dissent" procedure and force the corporation to pay them a fair market value for their shares.
◦ The shareholders could force the directors to start the action on the basis of their "pre-emptive right."
◦ If the company failed to commence an action through its authorized agents (e.g., its directors), no action could be taken, because a corporation is merely a legal concept and must act through its authorized agents.
◦ A representative (derivative) action allows a shareholder to commence an action on behalf of the corporation.
◦ The shareholders could sue the corporation for oppression.
Legal Fundamentals for Canadian Business ¦ Yates ¦ 4th Edition
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Marked as best answer by elizabeth18 on Aug 7, 2021

Missbam101

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Reply #1 on: Aug 7, 2021
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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elizabeth18

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Reply 2 on: Aug 7, 2021
Thanks for the timely response, appreciate it

upturnedfurball

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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