Fact Pattern 40-3A

question 25

Multiple Choice

Fact Pattern 40-3A
Atlantic Corporation's articles of incorporation prohibit a sale of its assets with?out a vote of the board of directors. Atlantic's officers sell some assets to Pacific Company without notice to the board. The officers also fail to pay Atlantic's taxes on time, and some Atlantic funds are not accounted for.
-Refer to Fact Pattern 40-3A. The appropriate remedy is most likely

• A) a sale of the rest of Atlantic's assets to its directors and shareholders.
• B) Atlantic's consolidation or merger with Pacific.
• C) Atlantic's dissolution.
• D) payment of damages to Atlantic's officers.

---

Definitions:

Consistent

In mathematics, particularly in systems of equations, it refers to a system that has at least one solution.

Inconsistent

A term describing systems of equations that have no solution, as their lines or planes do not intersect.

Solutions

The values or sets of values that satisfy the conditions of an equation or inequality.

Infinite Solutions

A condition in which an equation or system of equations has an unlimited number of solutions.