Because of Their Positions Within the Corporation, Directors Must Make

question 19

True/False

Because of their positions within the corporation, directors must make full disclosure of any conflicts of interest with respect to corporate contracts.

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Definitions:

Remedies

Legal means to enforce a right or redress a harm, including monetary compensation, injunctions, and specific performance.

UCC

A comprehensive code addressing various aspects of commercial law, including sales, leases, and negotiable instruments, to streamline commerce across state lines.

Code

A code is a system of principles or rules, often used in contexts like legal codes (laws grouped by subject) or programming (instructions for computers).

Remedies

Remedies are the means by which a court enforces a right, imposes a penalty, or makes another court order to impose its will.