Question 23

A director on the board of director has a fiduciary obligation to the corporation.

True

False

Question 24

If a partner is a limited liability partnership commits a tort in the scope of the partnership, then all other partners would be held personally liable for that tort.

True

False

Question 25

If a minor has entered into a contract, what can the minor do?

		The minor is bound to the contract just as an adult would be, unless she is shown to be mentally incapacitated
		Disaffirm the contract at any time before the minor turns 18 years old
		Cancel the contract at any time
		Disaffirm the contract any time up to and for a reasonable time after her 18th birthday