51. Tech Talent & Personnel, Inc., a corporation. Tech Talent’s : 1836207
51. Tech Talent & Personnel, Inc., is a corporation. Tech Talent’s implied powers enable it to
a. none of the choices.
b. depart significantly from traditional corporate formalities.
c. bind the corporation to an action that will greatly affect its purpose.
d. borrow funds and lend funds.
52. Music Makers Inc. has a stated purpose to sell musical instruments. If chief executive officer Ned contracts with Open Carry Firearms in Music’s name to sell a shotgun, he has likely committed
a. an ultra vires act.
b. a de facto act.
c. a de jure act.
d. a legal act.
53. Bret and Courtney form Delite Day Care, Inc. Ultimate responsibility for policy decisions necessary to the management of corporate affairs rests with Delite’s
a. board of directors.
54. Godfrey is elected as a director for Healthful Snax, Inc. He will most likely serve for a term of
a. about ten years.
b. less than one year.
d. one year.
55. Clive, Domina, and Elgar are the first directors on the board of Face x Face Corporation, a social media host. Subsequent directors are elected by a majority vote of Face x Face’s
56. Aviators Source Corporation makes and sells aircraft parts. In most states, the minimum number of directors that must be present before Aviators Source’s board could transact its business is
a. all of the directors authorized in the articles or bylaws.
b. a majority of the number authorized in the articles or bylaws.
c. any odd number.
57. The board of Management Consultants, Inc. (MCI), can delegate work to
a. MCI's incorporators.
b. MCI's officers.
c. MCI's shareholders.
d. no one.
58. Ernst is a director of Fine Art Dealers, Inc. Ernst is trained in art valuation. Fine Art makes several purchases in which it pays too much for artwork. Ernst approves all the transactions without reading the details. Ernst is most likely liable for breach of
a. the duty of care.
b. none of the choices.
c. the duty of loyalty.
d. the business judgment rule.
59. Holly is a director of International Gourmet Spices, Inc. As a director, with respect to the corporation, Holly is
a. a fiduciary.
b. an incorporator.
c. an officer.
d. an employee.
60. Nora is a director of Outback Outfitters, Inc. Under the standard of due care owed by directors of a corporation, Nora’s decisions must be informed and