Which of the Following Would a Court Most Likely Require

question 19

Multiple Choice

Which of the following would a court most likely require in order to find there is no legal impediment to Marion proceeding to pursue a corporate opportunity declined by the corporation in which she holds a fiduciary position?

• A) a resolution enacted by the corporation declining the corporate opportunity
• B) a consenting resolution passed by the directors of the corporation
• C) a consenting resolution passed by the shareholders of the corporation
• D) a resolution enacted by the corporation's consenting shareholders and directors

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Definitions:

Fourteenth Amendment

An amendment to the U.S. Constitution granting citizenship to all persons born or naturalized in the United States, and guaranteeing all citizens equal protection under the laws.

Due Process Clause

A clause in the Fifth and Fourteenth Amendments of the United States Constitution ensuring legal protections and fairness, including the requirement for proper legal procedures and the protection of individual rights.

National Government

The organization through which political authority is exercised at the national level, governing the entirety of a country.

State Governments

These are the governments of the individual states within a federal system, each having its own constitution and the authority to legislate on matters not reserved for the federal government.