business law class

Brief Hypotheticals: Corporate Formation and Financing Total points: 4/5 Attempts left Mork and Mindy create a for-profit corporation, Mork's House, to provide shelter to homeless and abused women and children. Mork and Mindy are shareholders of the corporation. Zada is also a shareholder in the corporation, along with five others. Douglas manages the day-to-day operations of the corporation. The bylaws of the corporation provide that the corporation is established for the sole purpose of providing shelter, food, and care for homeless and abused women and children and for no other purpose. When the refrigerator in Mork's House stops working. Douglas purchases a new refrigerator from Home Depot and charges it to the corporation. If Zada challenges the purchase as going beyond the powers of the corporation: she will win, because the bylaws do not address purchases of appllances. she will lose, because purchasing the refrigerator falls under the implied powers of the corporation. she will lose, because purchasing the refrigerator is an express power of the corporation