Ajax CoHas Six Directors

question 9

Multiple Choice

Ajax Co.has six directors.Three of the directors favor corporate expansion and three directors want to keep Ajax at its current size and distribute the surplus profit.How will a court likely resolve this deadlock?

• A)Appoint a seventh director to break the tie.
• B)Appoint an arbitrator.
• C)Order an involuntary dissolution of Ajax.
• D)Order the directors to make an agreement or be in contempt of court.

Identify causes and effects of fluctuations in real GDP.

Analyze the impact of technological progress and expectations on price levels and production.

Understand the relationship between aggregate supply, aggregate demand, and economic equilibrium.

Learn the dynamics of output and price levels in response to economic policies and external shocks.

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Definitions:

Frustration Clause

A frustration clause in a contract is a provision that releases both parties from their obligations if an unforeseeable event occurs, making it impossible to fulfill the contract.

Tomato Crop

Refers to the cultivation and production of tomatoes as an agricultural activity.

Epidemic

A widespread occurrence of an infectious disease in a community at a particular time, affecting a large number of people.

Condition Subsequent

A clause in a contract that specifies an event or action that terminates the contract or a duty under the contract.