Give Another Term Used in Place of Item Number and De-

question 14

Essay

Give another term used in place of item number and de- scribe the meaning of these terms.

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Definitions:

Director Liability

The legal responsibility of a company's directors for actions or omissions that lead to financial loss or legal penalties.

Corporation Debts

Financial obligations and liabilities incurred by a corporation in the course of business, for which the corporation is legally responsible.

Pre-emptive Rights

The rights granted to shareholders to purchase additional shares in a company before the shares are offered to the public, to maintain their proportionate ownership.

Due Diligence

The thorough investigation or exercise of care that a reasonable business or person is expected to take before entering into an agreement or contract with another party.