Susan, Alice and Wanda Are Shareholders in Flip Flop and Fly

question 38

Multiple Choice

Susan, Alice and Wanda are shareholders in Flip Flop and Fly Inc., a children's yoga store. Each own 33% of the shares. Susan and Alice have decided they no longer want to work with Wanda. They sell all of the corporate assets to Bendy Girl Ltd. Does Wanda have any rights?

• A) Wanda may have statutory rights under the derivative action
• B) Wanda may have contractual rights under a shareholders' agreement.
• C) Wanda may have statutory rights under the oppression remedy
• D) Wanda may have contractual rights under a shareholders' agreement and statutory rights under the oppression remedy.
• E) Wanda may have contractual rights under a shareholders' agreement and statutory rights under the derivative action.

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