Exam 40: B: Corporate Directors,officers, Shareholders

Frida,Gayla,and Hart occupy the positions of director on the board of Integral Components Corporation.With respect to these directors,a quorum is the minimum number

A director must make a full disclosure of any potential conflict of interest that might arise in any corporate transaction.

Shareholders are personally liable for the debts of a corporation.

Thor Power Products Corporation permits the election of its directors by cumulative voting.This

A director or officer is required to exercise the care that an ordinarily prudent person would exercise in similar circumstances.

Shareholders are co-owners of the corporation.

Officers hire the directors and other executive employees.

An amendment to the articles of incorporation can create a new position on the board of directors.

Gillian is a director of Fizzy Soda Company.As a director,Gillian can act as an agent to bind Fizzy

Every shareholder is entitled to examine specified corporate records.

The ordinary rules of agency normally do not apply to the employment of corporate officers.

Committees of the board of directors focus on individual subjects.

Bret and Courtney form Delite Day Care,Inc.Ultimate respon?sibility for pol?icy decisions necessary to the management of corporate affairs rests with Delite's

Directors are not obligated to refrain from self-dealing.

Rhea is a director of Spex Corporation,which makes and sells sunglasses and other eyewear.As a Spex director,Rhea sits on the board,which

Dividends can be paid in the stock of the corporation that is paying the dividends.

Many qualifications are required for directors.

Odell is a director of Price Rite,Inc.As a director,with respect to the corporation,Odell is

In some states,obtaining the unanimous written consent of sharehold?ers is a permissible alternative to holding a shareholders' meeting.

Reba is a director of Quantum Mechanix Corporation.Reba's rights,as a di?rector,do not include a right to