Adam, Betty, and Cindy formed ABC Corp. and agreed that (1) each of them would own one-third of the stock; (2) they would not permit any other persons to become shareholders unless they all agree; (3) each of them would serve on the board, which will consist only of three members; (4) each of them would work for the company and be paid equal salaries for equal work; and (5) if any of them retires, the company will repurchase his or her stock for a "fair" price. In addition, they agreed that, every Friday, the corporation would pay for their lunches.

If Betty and Cindy cause the corporation to discontinue this free-lunch-on-Friday policy, can Adam successfully argue that he has been oppressed?

Answer rating: 100% (QA)

The discontinuation of the freelunchonFriday polic... View the full answer