If There Is a Conflict Between the Express Terms of the Contract

question 3

True/False

If there is a conflict between the express terms of the contract and the past course of dealing between the parties, the past course of dealing between the parties prevails.

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Definitions:

Preferred Shareholders

Investors who own preferred shares in a company, giving them priority over common shareholders in the distribution of dividends and assets.

Dividend Distributions

Payments made by a corporation to its shareholders, usually derived from the company's earnings.

Cumulative Voting

A voting system that allows shareholders to concentrate their votes on a single candidate for the board of directors.

Board of Directors

A group of individuals elected by shareholders to oversee the management and make major decisions for a company.