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Chapter 28
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There is considerable variation among state corporation laws.
True or False
True
A close corporation may restrict the right of a shareholder to transfer stock.
True or False
True
Only acts that fall within the express powers of a corporation are ultra vires.
True or False
False
Ultra Vires
A latin term meaning "beyond the powers" in corporate law, acts of a corporation that are beyond its express and implied powers to undertake
Articles of incorportation are drafted at the corportions first organizational meeting.
True or False
False
"Piercing a corporate viel" means exposing a firm's shareholders to personal liability
True or False
True
Author:
luissantan06
ID:
52343
Card Set:
Chapter 28
Updated:
2010-11-30 04:24:46
Tags:
Chapter Business Law Class
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Description:
Chapter 28
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