Branson Corp

question 80

True/False

Branson Corp. will do everything that is legally required, but it will not go beyond that. This means that Branson has adopted the defensive approach to social responsibility.

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Definitions:

Option Contract

A legal agreement between two parties granting one the option, but not the obligation, to buy or sell an asset at a predetermined price within a specified period.

Revoked

The act of officially canceling or withdrawing a right, privilege, or membership.

Commercial Reasonableness

A standard used to evaluate the appropriateness of actions taken in a business context, ensuring they align with typical business practices and norms.

Business Judgment

refers to the decision-making process by corporate directors and officers that is presumed to be in the best interest of the company, protecting them from liability if the decisions are made in good faith and with reasonable care.