Think of an Association You Are Familiar with or One

question 12

Essay

Think of an association you are familiar with or one that you have read about. How do the formal structure and informal structure help the organization to function and help its members? Outline the characteristics of associations. Discuss general and specific goals. Connect to your example.

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Definitions:

Business Judgment Rule

A principle of corporate governance that shields a corporation's board of directors from liability for decisions made in good faith, with due care, and in the best interests of the corporation.

Shareholder's Direct Suit

A legal action initiated directly by a shareholder against the corporation, typically for actions that have caused harm directly to the shareholder.

Right of Obedience

The obligation of a fiduciary or agent to act in accordance with the directives of the principal, provided these instructions are legal and ethical.

Preponderance of the Evidence

A standard of proof in civil cases, signifying that one side's argument is more likely true than not based on the evidence presented.