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:

Heat

A form of energy associated with the movement of atoms and molecules, transferable between objects or systems resulting in temperature changes.

Dissipates

The process by which matter or energy disperses or spreads out to a less concentrated form, often resulting in a more uniform distribution.

Usable

Suitable or ready for use; able to be used for a particular purpose or in a particular way.

Delta G

The change in Gibbs free energy, predicting the direction of chemical reactions and their spontaneity.