Law 204 - Week 6 - Shareholder Rights Certification Review Exam Questions And Correct Detailed Answers.
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Course
INC.
Institution
INC.
The biggest difference for a business owner between being a shareholder of a corporation compared to being a partner in a partnership is: - correct answer Partners have a direct personal interest in business assets and liabilities while shareholders have an indi...
The biggest difference for a business owner between being a shareholder of a corporation compared to
being a partner in a partnership is: - correct answer Partners have a direct personal
interest in business assets and liabilities while shareholders have an indirect interest in business assets
and liabilities.
The articles of a corporation indicate that there is only one class of shares - common shares. What
right(s) must those shares have by Canadian law? - correct answer a) The right to
vote.
b) The right to receive a share of remaining assets on dissolution.
c) The right to receive information about the corporation including annual financial statements.
d) All of the above. <<< Answer
In ABC Inc., John owns 50 common shares, Paul owns 40 common shares and Ringo owns 25 common
shares. Given this information, which of the following statements is true? - correct answer
Paul has an effective veto over any special resolution
Where a shareholder is aggrieved by management, but doesn't wish to sue, what can she do? - correct
answer Sell her shares if she can.
A "complainant" can bring a derivative action. Who could that be? - correct answer
A shareholder or a creditor.
Which statement is most true about an oppression action? - correct answer The
minority shareholder or creditor launching the action is seeking a personal remedy.
Jeannie is one of 3 directors of Acme Inc. She convinces the other 2 directors to sell Acme Inc. property
to her for 50% of its actual value. Barb is a minority shareholder. What can she do in this situation? -
correct answer Launch a derivative action against the Jeannie and/or all the
directors.
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