4. Directors can approve fundamental corporate changes without the involvement of shareholders. (p. 88) a) True b) False Page 1 LAWS115-2020Winter-Test 2-Practice Quiz-Review Ques CHAPTER 5 FILL-IN-THE-BLANK 1. Corporations have the capacity, rights powers and privileges of a person. (p. 84) 2. In some cases, corporations have existed for centuries. This is described as _existence. (p. 85) 3. Shareholders the directors of a corporation. (pp. 86,94) 4. The shares of a corporation are not available for purchase to the public. (p. 87) 5. The owners of a corporation may attempt to influence its board of directors through making a shareholder - (p. 88) 6. Someone who has legal authority to act on behalf of another person is called an (p. 92) duty to "act honestly and in good faith with a view to the best 7. Directors are subject to a interests of the corporation". (p. 95) officers to manage certain aspects of a corporation's business 8. In some corporations, directors and affairs. (p. 97) 9. When interpreting the Canadian Charter of Rights and Freedoms, corporations are persons but they are not - (p. 99) 10. The oldest method of incorporation is called . (p. 102) 11. Where any kind of unfairness exists within a corporation, shareholders may apply to a court for the (p. 89) 12. A shareholder who wishes to become involved in litigation where the board of directors has not handled the situation according to the shareholder's preference could apply to the court for a - (p. 90) TRUE OR FALSE 1. The ordinary liability of shareholders is NOT limited to their investment in the corporation. (p. 84) a) True b) False 2. Directors are responsible for appointing a corporation's auditors. (p. 86) a) True b) False 3. Corporations can have only one shareholder. (p. 86) a) True b) False 4. Directors can approve fundamental corporate changes without the involvement of shareholders. (p. 88) a) True b) False