Canadian Courts Have Consistently Held That a Majority Shareholder Owes

question 3

Multiple Choice

Canadian courts have consistently held that a majority shareholder owes ________ to act for the welfare of the corporation.

• A)fiduciary duties
• B)no positive duty
• C)a duty of loyalty
• D)a non-compete duty
• E)a positive duty

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Definitions:

Excise Tax

A charge imposed on the sale or use of particular products or services, including alcohol, tobacco, and fuel.

Tax Burden

The financial charge or other levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.

Consumers

Individuals or groups that purchase goods or services for personal use and not for manufacturing or resale purposes.

Producers

Individuals or businesses engaged in the creation of goods or services, aiming to sell them for a profit.