Question

45. In the case of Coopers & Lybrand v. Fox, Gary Fox suo personally liable because Coopers signed a release agreeme successfully proved that he was not 46. The term quorum can be defined as: a. forfeiture of stock. b. a written agreement between a shareholder and another party re voting rights. another term for a stock certificate. the number of shareholders that must be present or represented ata meeting before business may be transacted. c. d. A director can be removed from a corporate board for cause. Unlike other business entities, corporations do not have the right to due process. Raul is chairman of the board of Swif-Vac Corporation. Paul, a consumer, is injured 47. 48. 49. while using a Swif-Vac product. Paul sues Swif- Vac, and Raul individually. Swif-Vac may pay Raul's fees under a. the director's right to certification. b. the director's right to compensation. c. the director's right to indemnification. d. no circumstances. Sylvia is an officer of Triad Hotel Company. As an officer, with respect to the corporation, Sylvia is: 50. a. a fiduciary b. a forum. c, a proxy. d. a quorum

Answer 1

Ans 45 false
Fox was personally liable to Cooper for all the work which was performed
on behalf of the corporation before that was formed.
ans 46
d) the no. of shareholder that must be present or represented
at a meeting before business may be transacted.
There should be minimum no. of members that must be present in
the meeting for and decision which needs to be taken.
ans 47
True. Yes if there is a sufficient cause the director can be removed
ans 48
False, corporations have the right to due process.
ans 50
Option A a Fiduciary
As he is a person who take care of assets of other person
it can be a legal or ethical relationship.
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