ABC Corporation Is Incorporated in State X

question 60

Multiple Choice

ABC Corporation is incorporated in state X.Under the laws of state X,no corporation is allowed to sell insurance contracts without first obtaining a license from the state.ABC sells an insurance contract,but neither ABC nor its directors,officers,or employees have the required license.ABC's actions are best described as:

• A) express powers
• B) implied powers
• C) ultra vires acts
• D) inherent powers
• E) legal acts

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Definitions:

Group Moral Responsibility

The concept that a collective or group can be held ethically responsible for actions taken as a whole.

Collectivist Culture

Societies or groups where people prioritize the goals of the group over individual achievements, fostering strong ties between members and a sense of shared responsibility.

Relativism

The philosophical position that points of view have no absolute truth or validity, being valid only relative to other perspectives.

Cross-Cultural Psychology

Psychological research and theorizing that attempts to account for the psychological differences between and within different cultural groups.