Question: IL E- - 9. At their the Board appoints John-Boy President. They also decide not to declare a dividend because there are not enough with

IL E- - 9. At their the Board appoints John-Boy President. They also decide not to declare a dividend because there are not enough with 10. As President, John-Boy is an and _to enter into contracts 11. John-Boy incorporates the publishing house using Walmart money and its employees to help with the legwork. When Erin finds out, she accuses him of violating his 12. John-Boy defends himself by claiming he made a rational informed decision and is therefore protected by the 13. Erin sues John-Boy on behalf of the corporation in a lawsuit, alleging he acted 1 Business Judgment Rule Implied Power debt ultra-vires Retained Earnings preferred stock dividends taxable entity bonds fiduciary duty Derivative Annual Meeting of Shareholders Annual Meeting of Directors Express Powers quorum n

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