Dissolution That Is Judicial May Be Brought About When

question 32

Multiple Choice

Dissolution that is judicial may be brought about when:

• A) a shareholder brings a proceeding because the directors are deadlocked in management of the corporate affairs and the corporation is suffering irreparable injury.
• B) the board of directors creates a resolution approved by shareholders to dissolve.
• C) the shareholders of a closely held corporation adopt a unanimous agreement to dissolve.
• D) the corporation is without a registered agent for over 60 days.

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Definitions:

Integrative Negotiation

A negotiation strategy where parties collaborate to find a "win-win" solution to their dispute.

Distributive Assumptions

Beliefs or assumptions regarding the distribution of outcomes or resources in conflict or negotiation, typically focusing on a zero-sum perspective.

Mixed-Motive Nature

A characteristic of negotiations where parties have both shared and conflicting interests, requiring cooperation and competition.

Pre-Settlement Settlement

An agreement reached by the parties involved in a dispute before a formal settlement is finalized, often used to expedite resolution.