Omega corporation is a ship building company focusing on luxury vessels. Lucas is a shareholder in Omega corporation and owns $53\%$ of the outstanding shares. Judy is also a shareholder and owns $2\%$ of the outstanding shares. Conner is an officer for Omega corporation. Pierce is an officer of Omega Corporation and member of their Board of Directors$$

$$A$.$ Omega corporation needs to build a new factory and needs to buy the land for this factory. Conner sells to Omega corporation for $$400,000$ some land he bought for $$250,000.$ Is Conner liable for this transaction, why or why not?$$

$$B$.$ Conner buys from the corporation one of the small ships built by Omega. These ships have been selling for $$48,000$ dollars each and there is a six month waitlist for anyone wanting one. Conner buys his ship for $$42,000.$ Is Conner liable for this transaction, why or why not?$$

$$C$.$ Judy owns some construction equipment that would be useful for the corporation in building the new factory. Judy$$s equipment has a fair market value of $$25,000.$ Judy sells it to the corporation for $$37,000.$ Is Judy liable for this transaction why or why not?$$

$$D$.$ Omega corporation no longer needs the land it had been using for its old factory and sells it$.$ The land is worth $$230,000$ and Lucas buys it for $$210,000.$ Is Lucas liable for this transaction, why or why not?$$

$$E$.$ Pierce sells Omega corporation $1000$ tons of Steel from his separately owned steel company for $$100,000.$ Steel is a basic material needed by Omega in the construction of their ships. The current market price of Steel is $$101$ per ton. Is Pierce Liable for this transaction?$$