Albert Is the Principal Shareholder of a Large Investment Company

question 57

Multiple Choice

Albert is the principal shareholder of a large investment company and holds 45 percent of its common shares,which are valued at $500 000.00.Recently,Albert's company invested heavily in a gold mining company,which fraudulently represented finding and owning a new gold deposit in northern Canada.Albert's company lost a substantial amount of money,with the result that the value of Albert's common shares dropped to $25 000.00.Albert now launches a lawsuit against the gold mining company for the loss in value of his shares.In this case

• A)Albert will be entitled to a quantum meruit claim against the gold mining company.
• B)Albert will recover his loss because his cause of action is in fraud or deceit.
• C)Albert will not recover his loss because he has no claim for damages for a wrong done to his company.
• D)Albert will recover his loss because the court will lift the corporate veil of the gold mining company.
• E)Albert will recover his loss because the court will force the gold mining company to insure his shares.

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Definitions:

Competitive Behaviors

Actions undertaken by individuals or groups aimed at outperforming others to achieve their objectives, often in a competitive environment or platform.

Positive Competitive

Refers to a situation where competition leads to beneficial outcomes for the participants, encouraging improvement and innovation without detrimental effects.

Teamwork Skills

The abilities that enable an individual to work effectively and harmoniously in a group setting towards a common goal.

Competitive Individual

A person who possesses a strong desire to win or be the best in activities, often motivated by achievement and success.