Tank Is a Director and the Majority Shareholder of Unique

question 25

Essay

Tank is a director and the majority shareholder of Unique New Investment Corporation (UNIC).Tank buys,for $1,500,an option to pur?chase a tract of real estate for $50,000.Tank forms Vista Property,Inc.,to hold the option.As the majority shareholder,and thus controlling di?rector,of UNIC,Tank orders the firm to authorize the pur?chase of the land from Vista Property for $500,000.Tank then has Vista Property buy the land,sell it to UNIC,and loan the money to UNIC for the purchase at a 10 percent interest rate.Wim,a minority shareholder in UNIC,com?plains to UNIC's board,which takes no action.Wim files a suit against Tank on UNIC's behalf.Will Wim prevail? Explain.

---

Definitions:

Proactive Interference

The occurrence where earlier memories hinder the retrieval of more recent memories.

Source Amnesia

A memory disorder where one can recall certain information but cannot remember how, when, or where they learned that information.

Implicit Memory

This form of memory allows for improved task execution by relying on past experiences, without the conscious perception of those experiences.

Proactive Interference

A phenomenon where old information hinders the recall or learning of new information.