All of the Following Are Duties of the Board of Directors

question 30

Multiple Choice

All of the following are duties of the board of directors of a corporation EXCEPT ______.

• A) hiring the corporation's chief executive officer
• B) authorizing major transactions of the corporation
• C) guaranteeing the payment of cash dividends every year
• D) electing its own officers

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Definitions:

Force Majeure Clause

A contractual provision that frees all parties from liability or obligation when an extraordinary event or circumstance beyond their control occurs, preventing them from fulfilling their obligations.

Declaration Of War

A formal statement issued by a national government indicating that a state of war exists between it and another nation.

United Nations

An international organization formed in 1945 to promote peace, security, and cooperation among the world's nations through diplomacy and dialogue.

Performance Impossible

A legal concept where the fulfillment of contractual obligations becomes impossible due to unforeseeable circumstances.