if false, please give me explanation 4. Some states, by statute, permit both the fiduciary Duty of
Question:
if false, please give me explanation
4.
Some states, by statute, permit both the fiduciary Duty of Loyalty and the fiduciary Duty of Due Care to be waived. True/False?
5.
A member of a Board of Directors who has a conflict of interest, who does not disclose it to the Board of Directors and, nevertheless participates in a decision by the Board, can plead the affirmative defense of estoppel in the event that she is sued by shareholders for a breach of the fiduciary Duty of Loyalty? True/False?
6.
If the presumption of the Business Judgment Rule is rebutted by evidence offered by the Plaintiff that the Board of a corporation either did not check into all of the information that it should have when it made a decision in question and/or that there was a conflict of interest, the standard of liability that the courts will use to determine if the Board has breached its fiduciary duty is negligence i.e. that the Board did not operate as reasonably prudent persons would have under the same or similar circumstances? True/False?
7.
Where shareholders file a derivative suit against their corporation’s Board of Directors for the Board’s breach of the fiduciary duty of Due Care, the pre-suit requirement is that, unless it would be futile, they must make a pre-suit demand on the board to file the action. True/False?
8.
The Citizens United decision from the Supreme Court stands for the proposition that Federal Election Commission rules banning corporations from using their corporate funds for political contributions are violations of the First Amendment to the U.S. Constitution. True/False?
Expert Answer:
4 ANSWER False The fiduciary duty of loyalty and the fiduciary duty of due care cannot be waived 5 A... View the full answer
