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When directors vote on issues affecting the corporation, ordinary matters generally require


A) a greater-than-majority vote.
B) a majority vote.
C) one vote.
D) a unanimous vote.

E) A) and C)
F) A) and D)

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verified

A corporation is intangible and invisible, and exists only in the contemplation of the law.

A) True
B) False

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verified

Nile is a holder of preferred stock in Oasis Hotels Inc. Nile


A) has no ownership interest in the corporation.
B) has priority over holders of common stock as to payment of dividends.
C) follows common stockholders as to payment on the firm's termination.
D) has a proportionate interest in the corporation with regard to control.

E) C) and D)
F) B) and C)

Correct Answer

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verified

Shareholders' assumption of personal liability, as guarantors, for the obligations of a corporation can enable the firm to obtain credit.

A) True
B) False

Correct Answer

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verified

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