The Term Superior Means Toward the Head

question 93

True/False

The term superior means toward the head.

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Definitions:

Majority Owner

A majority owner refers to an individual or entity that holds more than 50% of a company's shares, thereby having significant control and decision-making power within the company.

Board of Directors

A group of individuals elected to represent shareholders and make major decisions concerning the corporation, including company policy, and director oversight.

Preferred Shares

Preferred shares represent ownership in a company with preferential rights to dividends and assets upon liquidation, compared to common shares.

Doctrine of Ultra Vires

A principle stating that actions taken by a corporation that are beyond its legal power or authority are invalid.