A Ron Wants to Buy All of the Stock of Quagmar

question 89

Essay

a. Ron wants to buy all of the stock of Quagmar, Inc. He approaches the officers and directors and offers to pay them $200 per share for each of the shares they hold. The officers and directors agree and then convince the majority of shareholders to sell their stock for $100 per share. Do the other stockholders have a cause of action against the officers and directors? Explain.
b. Arthur, Bob, and Clark are three of the five board members of Krescent, Inc. One day they meet by chance for breakfast and decide to transact some corporate business while they are all together. If they decide to declare a dividend and to purchase another building for the corporation at this meeting, will their actions be binding on the corporation? Explain.

Distinguish between ideas, goals, and emotions in a professional setting.

Identify the emotional outcomes of achieving or failing to reach goals.

Understand Kohlberg's stages of moral development and their characteristics.

Recognize the importance of ethical reasoning in moral development.

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