In Ironite Products V

question 90

Multiple Choice

In Ironite Products v. Samuels, where a major shareholder (Samuels) of Ironite sued, contending the bylaws had been violated, the appeals court held that:

• A) the bylaws had been violated because the Companies' bylaws did not clearly sanction the Board of Directors to manage the business and affairs of the company
• B) the bylaws had been violated because the Companies' bylaws clearly sanctioned the Board of Directors to manage the business and affairs of the company
• C) the bylaws had not been violated because the Companies' bylaws clearly sanctioned the Board of Directors to manage the business and affairs of the company
• D) the bylaws were never properly approved and so there was no case for violation of bylaws
• E) none of the other choices are correct

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Definitions:

Management Rights

Decisions regarding organizational operations over which management claims exclusive rights.

Collective Agreement

A written contract negotiated between an employer and a union representing the employees, outlining their rights and duties.

Exclusive Rights

Special privileges granted to an individual or organization, allowing them to use, produce, or sell a particular product or service, often protected by law.

Rights Arbitration

Arbitration over interpretation of the meaning of contract terms or employee work grievances