Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

if false, please give me explanation 4. Some states, by statute, permit both the fiduciary Duty of Loyalty and the fiduciary Duty of Due Care

if false, please give me explanation

4.

Some states, by statute, permit both the fiduciary Duty of Loyalty and the fiduciary Duty of Due Care to be waived. True/False?

5.

A member of a Board of Directors who has a conflict of interest, who does not disclose it to the Board of Directors and, nevertheless participates in a decision by the Board, can plead the affirmative defense of estoppel in the event that she is sued by shareholders for a breach of the fiduciary Duty of Loyalty? True/False?

6.

If the presumption of the Business Judgment Rule is rebutted by evidence offered by the Plaintiff that the Board of a corporation either did not check into all of the information that it should have when it made a decision in question and/or that there was a conflict of interest, the standard of liability that the courts will use to determine if the Board has breached its fiduciary duty is negligence i.e. that the Board did not operate as reasonably prudent persons would have under the same or similar circumstances? True/False?

7.

Where shareholders file a derivative suit against their corporation’s Board of Directors for the Board’s breach of the fiduciary duty of Due Care, the pre-suit requirement is that, unless it would be futile, they must make a pre-suit demand on the board to file the action. True/False?

8.

The Citizens United decision from the Supreme Court stands for the proposition that Federal Election Commission rules banning corporations from using their corporate funds for political contributions are violations of the First Amendment to the U.S. Constitution. True/False?


Step by Step Solution

3.49 Rating (172 Votes )

There are 3 Steps involved in it

Step: 1

4 ANSWER False The fiduciary duty of loyalty and the fiduciary duty of due care cannot be waived 5 A... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Law for business and personal use

Authors: John E. Adamson

18th edition

538445887, 538445882, 9781111803131 , 978-0538445887

More Books

Students also viewed these Business Communication questions