In Ironite Products V

question 361

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' certificate of incorporation 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:

Therapeutic Situation

An environment or setting designed for the purpose of providing psychological treatment and support, often facilitating communication and emotional healing.

Bias

A tendency to lean in a certain direction, often to the detriment of an open-minded assessment, stemming from personal judgement, experience, or preference.

Confirmation Bias

The tendency to search for, interpret, favor, and recall information in a way that confirms one's preexisting beliefs or hypotheses.

Availability Heuristic

A cognitive shortcut that relies on immediate examples that come to a person’s mind when evaluating a specific topic, concept, method, or decision.