Match Each Statement with the Correct Term Below

question 37

Multiple Choice

Match each statement with the correct term below.
-direct suit

• A)Directors are elected by a plurality of votes.
• B)Authorization to vote another's shares at a shareholder meeting.
• C)Permits a domestic business corporation to become a domestic or foreign partnership, LLC, or other entity; permits a domestic of foreign partnership, LLC, or other entity to become a domestic business corporation.
• D)Change of a corporation's state of incorporation.
• E)Entitles each shareholder to give one candidate as many votes as the number of directors to be elected multiplied by the number of shares owned.
• F)Minimum number necessary to be present at a meeting in order to transact business.
• G)Brought by shareholder on behalf of the corporation to enforce a right belonging to the corporation.
• H)Brought by a shareholder to enforce a claim against the corporation based upon his ownership of shares.
• I)Must exercise ordinary care and prudence.
• J)Fiduciary obligation of faithfulness; subordination of self-interest.
• K)Must act within their respective authority.
• L)The combination of assets of two or more corporations into one of the corporations.
• M)The combination of two or more corporations into a new corporation.
• N)Precludes imposing liability on directors and officers for honest mistakes in judgment if they act in good faith with due care.
• O)A general invitation to all the shareholders of a target company to sell their shares at a specified price.

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Definitions:

Trial Proceedings

The formal process in a court of law involving the examination of evidence to determine guilt, establish innocence, or resolve a dispute.

Appellee

The party in a legal case who won at the lower court level and is defending that decision in a higher court against an appeal.

Appellant

The party who appeals a decision made by a lower court, seeking review and reversal of that decision by a higher court.

Writ Of Execution

A court order authorizing the enforcement of a judgment, often by seizing and selling the debtor's property.