Which Is Most Accurate

question 6

Multiple Choice

Which is most accurate?
What significant duty is imposed by the courts on the applicant of a without notice interim application?

• A) A duty of full and frank disclosure.
• B) A duty to keep the costs of the application within proportionate levels.
• C) A duty to inform the opponent of the application at the first opportunity.
• D) A duty to keep the client fully informed.

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Definitions:

Corporate Books

The official records of a corporation, documenting essential activities, decisions, and financial transactions.

Freeze-Out Acquisition

A strategy used in mergers and acquisitions where a majority shareholder forces out minority holders to take full control of the company.

Share Split

Traditionally, a corporation’s dividing existing shares into two or more shares, thereby increasing the number of authorized, issued, and outstanding shares and reducing their par value. In modern corporation law, treated like a share dividend. Also called stock split.

Total Fairness Test

A legal standard used to evaluate the overall fairness and equity of a corporate action or decision, especially in mergers and acquisitions.