In Order to Find an Absence of a Legal Impediment

question 25

Multiple Choice

In order to find an absence of a legal impediment to Marion proceeding to pursue a corporate opportunity declined by the corporation in which she holds a fiduciary position,which of the following would a court most likely require?

• A) a resolution enacted by the corporation declining the corporate opportunity
• B) a consenting resolution passed by the directors of the corporation
• C) a consenting resolution passed by the shareholders of the corporation
• D) a resolution enacted by the corporation's consenting shareholders and directors

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Definitions:

Proposition

A statement or assertion that expresses a judgment or opinion which is either true or false.

Venn Diagram

A diagram that uses circles to represent the relationships among different sets, highlighting commonalities and differences.

Proposition

An observation that signals a judgment or perspective.

Venn Diagram

A diagram that uses circles to represent sets and their relationships, including intersections, unions, and complements, often used in logic and set theory.