Which of the Following May Be Used to Redress the Ultra

question 55

Multiple Choice

Which of the following may be used to redress the ultra vires acts committed by a corporation?

• A) A proceeding by shareholders to enjoin furthers such acts
• B) A shareholder derivative suit against the directors or officers for exceeding their authority
• C) A proceeding by the Attorney General of the state to enjoin the corporation from the transaction of unauthorized business
• D) All of these may be used.

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Definitions:

Bid Price

The maximum price that a buyer is willing to pay for a security or commodity.

Manager's Objective

The goals that are set by a company's management to be achieved through the operation of the organization.

Construction Firms

Companies specializing in constructing buildings, infrastructure, and other physical structures.

Bid Prices

The highest price that a buyer is willing to pay for an asset in the financial markets.