John,the Controlling Shareholder of a Large National Company,elected Allan,Edward,and Mary

question 20

Multiple Choice

John,the controlling shareholder of a large national company,elected Allan,Edward,and Mary as its directors.John has just heard of a venture that may or may not be beneficial to the company,but using his power as controlling shareholder,wants to go ahead with it and tells the three directors to approve it,which they do.It then turns out that the venture does more harm than good to the company.In this case

• A)John owes no fiduciary duty to the corporation.
• B)John owes no duty to account to the corporation.
• C)John owes no duty to the corporation.
• D)John owes no duty of care to the corporation.
• E)all of the above

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Definitions:

Hypertrophy

The enlargement of an organ or tissue from the increase in size of its cells, often related to physical exercise.

Flexible Line

This suggests an approach or method that is adaptable and can be adjusted according to different situations or requirements.

Lines of Resistance

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Resistance Factors

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