In Order to Lease Substantially All of a Corporation's Assets

question 60

Multiple Choice

In order to lease substantially all of a corporation's assets not in the usual course of business:

• A) shareholder approval is necessary.
• B) shareholder approval is required if so determined by a subjective test under the 1999 amendments to the Revised Act.
• C) approval of the board and the majority of the corporation's outstanding shares is required; dissenting shareholders do not usually have an appraisal remedy.
• D) shareholder approval is unnecessary, unlike for the sale of assets.

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Definitions:

Electron Carrier

A molecule that transports electrons between molecules in a pathway, such as in cellular respiration or photosynthesis.

Cellular Respiration

The metabolic process by which cells convert sugars into energy in the form of ATP, with the release of CO2.

NAD+

Nicotinamide adenine dinucleotide, a coenzyme found in all living cells that is involved in redox reactions, carrying electrons from one reaction to another.

ATP

Adenosine Triphosphate, a molecule that stores and transfers energy within cells for metabolism.