More Than ________ of Outside Directors Surveyed Said That They

question 39

Multiple Choice

More than ________ of outside directors surveyed said that they had been named as part of a lawsuit against the corporation.

• A) 40%
• B) 50%
• C) 60%
• D) 70%
• E) 80%

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Definitions:

Unconscionability

Unconscionability involves contract terms that are excessively unfair or oppressive to one party, making enforcement unjust.

Contract Formation

The process by which an agreement between parties becomes legally binding, typically requiring offer, acceptance, consideration, and mutual intent to be bound.

Mirror Image Rule

The mirror image rule is a principle in contract law that requires an acceptance to be on exactly the same terms as the offer in order to result in a binding contract.

Statute of Frauds

A rule of law mandating that some contract varieties must be documented and signed by the involved parties to be legally binding.