True false Ch. 27-28
And operating agreement established by the LLC is not permitted to alter statutory provisions regarding governance in any way.
F
Corporations are no longer permitted to engage in voluntary dissolution
F
Courts no longer have any power to liquidate the assets of a corporation when in action is brought by a shareholder
F
Greenmail is the least effective and I hostile takeover technique.
F
If a corporation has repeatedly conducted business in a lawful manner, the secretary of state can require the federal justice department to revoke it's charter
F
Per se violations must involve actual harm to be actionable under the Sherman antitrust act
F
Preemptive rights are more common in large, publicly held corporation's then in small, closely held corporation's
F
Price-fixing is an example of a rule of reason practice under the Sherman antitrust act.
F
Pulling agreements have been outlawed in all states
F
Regardless of whether the members or the managers ultimately run the LLC, fiduciary duties have been suspended by provisions outlined in the latest version of the uniform limited liability company act
F
The Robinson Patman act has been repealed by the United States antitrust modernization committee
F
The contracts clause is found in article 1, section 8, clause 3, of the constitution
F
The dissolution of an LLC is regulated by the federal government only
F
The members of an LLC have no choice in the matter of who will manage their firm.
F
Today the courts will readily substitute their own judgment and declare a dividend on corporate stock, even when the directors of the corporation have voted against such a move.
F
Under the securities exchange act of 1934, majority shareholders are exempt from proxy solicitation reporting requirements
F
Assuming a request by a shareholder to inspect the corporate books is a proper one, the court will force the request.
T
Directors have authority to appoint officers and agents to run the day to day affairs of the corporation
T
Hey controlled company is one that has more than half it's voting power concentrated in one person, or a small group of persons, who always go together.
T
If all the remaining members of an LLC wants to continue the LLC, they may do so
T
Most anti-fraud provisions of the securities and exchange commission apply to the merger process
T
Once in LLC has engaged in a disillusion procedure, the business does not stop immediately
T
Please power is the states authority to restrict private rights to promote and maintain public health, safety, welfare, and morals.
T
The business affairs of a corporation are managed by a board of directors elected by the shareholders
T
The business judgment rule is used by the courts when the manager is disinterested, that is, he or she does not personally gain from the decision
T
The business judgment rule states that a manager's decision will stand as long as it was legal, was made with do care and in good faith, it was made in the best interest of the corporation.
T
The fairness rule states that a decision made by a manager will stand it it is fair to the corporation
T
The heart Scott Road do you know act is designed to police any expansion attempts that might harm competition in the marketplace
T
The securities and exchange commission regulates the issuance of securities by corporations and partnerships.
T
The securities exchange act of 1934 actually established the securities and exchange commission.
T
The world of the law and the world of economics often interact such a way to become, at times, one single system, the judicial economic system
T
Under the original concept of the corporation, the shareholders are the primary reason that a corporation exist
T
Membership on a board of directors can never be extended to aliens, minors, or nonshareholders.
f
