The articles of a company set out the internal rules of the company.

True

False

QUESTION 39

Shareholders can agree in a shareholder agreement that any expenditure by the company worth more than $10,000 requires approval by all shareholders.

True

False

1.33 points

QUESTION 40

The directors are the owners of the company.

True

False

1.33 p

QUESTION 41

In a derivative action, the plaintiff is the company.

True

False

1.33 points

QUESTION 42

Unless agreed otherwise, a partner can be removed by a 2/3 majority vote of other partners.

True

False