Where the law expressly requires a meeting for a particular transaction, any action taken by the corporation without a meeting properly held for such purpose is void.Group of answer choicesTrueFalse

Any corporate act that does not fall under any of the transactions requiring stockholders’ or members’ approval can be carried out by mere board resolution.Group of answer choicesTrueFalse PreviousNext

A person served as director of both Corporation A and Corporation B. This director was presentat a meeting of the board of directors of Corporation A when it approved a contract betweenCorporation A and Corporation B, and his presence and affirmative vote were necessary toestablish a quorum of the board and approve the contract. The contract was fair and reasonable toCorporation A at the time it was approved. Is the contract voidable by Corporation A?a) Yes, if the common directorship was not known to the board of Corporation A.b) Yes, because the director’s presence and affirmative vote were necessary toestablish a quorum of the board and approve the contract.c) No, because common directorship cannot be a valid ground to void any contractapproved by a board of directors.d) No, because the contract was otherwise fair and reasonable to Corporation A atthe time it was approved

_________________ is a meeting that is called for a special reason.Question 4Answera.Status Meetingb.Work Meetingc.Management Meetingd.Team Meetinge.None of the Responses

Any person, partnership, association, or corporation, singly or jointly with others but not more than fifteen in number, may organize a corporation for any lawful purpose.Group of answer choicesTrueFalse

________________ is a meeting between a manager and those that report to the manager.Question 5Answera.Team Meetingb.Management meetingc.Status Meetingd.None of the Responsese.Work Meeting