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

question 53

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:

Assertive

A communication style characterized by confidently expressing one's opinions and needs directly and respectfully, without being aggressive.

Cooperating

The action of working together towards a common goal or benefit, often involving mutual assistance and collaboration.

Conflict Management Strategy

A systematic approach or technique adopted to handle and resolve conflicts in a constructive manner.

Concessions

Compromises made by one party to another during negotiations in order to reach an agreement or resolve a conflict.