Which One of the Following Statements Is TRUE

question 14

Multiple Choice

Which one of the following statements is TRUE?

• A) It is harder for dissidents to gain board seats if a company's board is classified.
• B) A classified board is one in which an announcement requesting applications for board members appears in the newspaper.
• C) In a classified board, it is easier for dissidents to gain representation since fewer seats are up for election each year.
• D) Inside directors are more concerned with shareholders' interests since they are more closely concerned with firm operations.
• E) Management is said to be entrenched when the senior managers are consuming excessive perquisites.

Recognize the principle of specific performance and conditions under which it applies.

Analyze scenarios for potential breaches of contract and identify applicable legal defenses.

Understand the implications of newly enacted laws on existing contracts.

Comprehend the concepts of material alteration of contract terms and their acceptability.