Which of the Following Was the Result in Patrick V

question 63

Multiple Choice

Which of the following was the result in Patrick v.Allen,the case in the text involving whether the business judgment rule exempted directors of a corporation from liability for renting land to a private golf course,of which several directors were members,at a price sufficient to cover only property taxes?

• A) That the directors could not benefit from the rule because the business judgment rule applies to officers, not directors.
• B) That while the business judgment rule applies to directors, it did not apply to provide protection to the directors because they stood to benefit personally.
• C) That the business judgment rule applied to shield the directors from liability because no fraud was involved in the transaction.
• D) That the business judgment rule applied to shield the directors from liability because the directors received no money directly from the golf course.
• E) That the business judgment rule applied to shield the directors from liability because the transaction was properly recorded on the company's books and not hidden.

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