Frank and Emma Are Shareholders in a Cell Phone Company

question 68

Multiple Choice

Frank and Emma are shareholders in a cell phone company that they started together.Emma provided $10 000 for the hardware, while Frank provided $40 000 for the software and the store itself.Frank decided to make a shareholders' agreement with Emma prior to starting the company to ensure she would not sell her shares to competitors at any time in the future.By doing this, Frank has most likely created which type of share transfer rule?

• A)a non-competition agreement
• B)a right of first refusal
• C)a shotgun buy-sell
• D)a share protection agreement
• E)a unanimous shareholders' agreement

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