The guidelines for the operation of a corporation are set forth in its Bylaws. TRUE OR FALSE ationwide Company's chief financial officer resigns. After a personal search, an investigation, and an interview, the of directors hires Ed. Ed turns out to be dishonest. Nationwide's shareholders sue the board. The board's best defense is the director's duty of care. TRUE OR FALSE Jill is employed by American Grocers to buy and install a computer system for American's distribution network. When th e system is set up and running, the agency continues on an as needed basis for a year. TRUE OR FALSE To obtain a contract with Dick, Cindy mispresents that she is a partner with Karl. Karl overhears Cindy's misrepresentation but says nothing to Dick. Cindy breaches the contract. Only Cindy is liable to Dick. TRUE OR FALSE A corporation can have perpetual existence. TRUE OR FALSE