QUESTION 3 1. Big Corporation plans on entering into a real estate contract with Small Corporation. Small Corporation is trying to sell land that is subject to flooding and is not worth as much as other land in the area because of the flooding. Directors John and Paul went out and looked at the land and then priced the land that was for sale on the hill across the street and they believed the price to be reasonable. They informed the other Directors that they had looked at the property, compared prices in the area and believed the transaction to be fair and reasonable. Directors John, Paul and George of Big Corp. voted to buy the land from Small Corp. for $1,000,000. Directors Ringo and Stuart didn't show up for the meeting and didn't vote. If they had hired an expert for $300, the expert would have told them about the flooding and that the land is really only worth $500,000. Sue, a shareholder of Big Corp. is really angry about the financial loss to the corporation and wants to file a lawsuit. What claims can Sue bring against the directors? Explain in detail. What defenses will the directors have if Sue files suit against them? Explain in detail