The Board of Directors of Lorantan Corporation Has 12 Members

question 47

Essay

The board of directors of Lorantan Corporation has 12 members.Lorantan's bylaws provide that a majority of seven or more directors is necessary to form a quorum.At a meeting of the board of directors,a resolution is adopted authorizing the sale of a substantial portion of the corporate assets to Pam Park,a director.Pam is one of the eight directors present.What must the directors do for Pam to avoid liability for buying the assets from the corporation?

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Definitions:

Extraembryonic Membrane

A set of tissues outside the embryo that provide support and nourishment in the early stages of development.

Shock Absorber

A mechanical device designed to smooth out or dampen shock impulse, and absorb kinetic energy.

Dizygotic Twins

Twins that arise from the separate fertilization of two eggs; commonly known as fraternal twins. Compare with monozygotic twins.

Fraternal Twins

Twins that develop from two different eggs fertilized by two different sperm, resulting in siblings that are genetically distinct.