Mark True or False for each question

10. Corporate officers may have implied authority. 0 11. The business judgment rule provides that all management decisions made within the scope of the corporate enterprise are insulated from judicial attack. 0 12. Controlling shareholders have a fiduciary duty to the corporation, while the ordinary shareholder has no fiduciary duty. 0 13. A member of a corporate board may vote by proxy. 0 14. The maximum duration of a shareholder agreement is the same as that of a voting trust. () 15. The same person may be a director, officer, and shareholder of a corporation at the same time. () 16. A corporations board of directors has the ultimate responsibility to manage the affairs of the corporation. () 17. In most corporations, public and closely-held alike, corporate officers are elected by the shareholders. () 18. As a general rule, only the directors of a corporation have the power to amend, adopt, or repeal bylaw provisions. 0 19. As a general rule, the only business that can be conducted at a special meeting of shareholders is that for which prior notice was given. ()