When Directors Vote on Ordinary Issues Affecting the Corporation, Generally

question 24

True/False

When directors vote on ordinary issues affecting the corporation, generally a two-thirds majority vote is required.

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Definitions:

Warranty Disclaimers

Legal statements that negate or limit the seller's liability for certain defects or failures in the goods or services provided.

Written

Expressed or conveyed by means of letters or symbols on a surface, typically intended to ensure permanence and clarity of the communication.

Liability

A legal obligation or responsibility that may arise from contracts, torts, or statutes requiring one party to compensate another.

Section 402A

A provision found within the Restatement (Second) of Torts that deals with the liability of sellers for harm caused by defective products they have sold.