Some Jurisdictions Permit the Shareholders to Amend the Articles of Incorporation

question 15

Multiple Choice

Some jurisdictions permit the shareholders to amend the articles of incorporation to relieve directors of any financial liability for violations of the duty of:

• A) care.
• B) loyalty.
• C) avoiding self dealing.
• D) voting.

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Definitions:

Alternative Dispute Resolution

A term referring to various methods of resolving conflicts and disputes without traditional litigation, such as arbitration or mediation.

Mediation

A conflict resolution technique involving a neutral third party who helps disputing parties find a mutually acceptable solution.

Arbitration

The process whereby a neutral third party issues a binding decision to resolve a dispute.

Negotiate

The process of discussing something with someone to reach an agreement or compromise.