6.Derivative Lawsuits are a right of shareholder.Explain what a derivative lawsuit is, what special issues would be necessary for the pursuit of one and if there are any procedural requirements that would have to be satisfied.(3 points).

7.With regards to forming an agency agreement what are the two key elements to form one between the parties.List and explain why.(2 points).

8.Kelly Klarckston wants to retire from her partnership Havamore, Song & Klarckston a general partnership where she and her partners are all equal partners.Klarckston would like to leave the partnership but have daughter Meghan Mylos take over for her as a general partner is day to day operations.She approaches the other partners about the matter.They turn to you for advice.What are the salient issues?(2 points).