29. The business judgment rule states that: a. corporate directors and officers are immune from liability for exercising poor business judgment in certain circumstances. b. corporate directors and officers are never immune from liability for exercising poor business judgment, regardless of the circumstances. c. shareholders may be personally liable for the negligent torts committed by the directors of a corporation if these torts are the result of a lack of oversight. d. directors may never be held liable for corporate harms or losses, as long as they have attended board meetings and agreed to corporate actions. 30. Which of the following IS NOT required to prove de facto corporate status? a. The parties made a good faith attempt to comply with a state incorporation statute. b. Statutory corporate formalities were not followed. c. A state statute must exist under which a valid incorporation could take place. d. The enterprise must be doing business as a corporation. 31. Suzy signs a written agreement with Phillip, giving Phillip the right to cast Suzy's votes for a certain group of people nominated for the Syllibar Corporation board of directors. This agreement between Suzy and Phillip is known as: a. a derivative agreement. b. a proxy. c. a subpoena. d. a cumulative voting agreement. 32. A person who is appointed by a court to wind up corporate affairs and to liquidate the business assets of a corporation is known as: a. the trustor. b. the receiver. c. the retainer. d. the director-in-trust