Which of the Following Would a Court Most Likely Require

question 19

Multiple Choice

Which of the following would a court most likely require in order to find there is no legal impediment to Marion proceeding to pursue a corporate opportunity declined by the corporation in which she holds a fiduciary position?

• A) a resolution enacted by the corporation declining the corporate opportunity
• B) a consenting resolution passed by the directors of the corporation
• C) a consenting resolution passed by the shareholders of the corporation
• D) a resolution enacted by the corporation's consenting shareholders and directors

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Definitions:

Sampling Distribution

The likelihood distribution of a metric derived from numerous samples collected from a certain group.

Sample Mean

The average of all the observations in a sample, used as an estimate of the population mean.

Central Limit Theorem

A statistical theory stating that, given a sufficiently large sample size from a population with a finite level of variance, the mean of all samples will be approximately equal to the mean of the population, with the samples approximating a normal distribution.

Statistical Inference

The process of drawing conclusions about population properties based on a sample taken from the population.