Self-dealing by Directors with the Corporation

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1. Absent the statutory safeguards, how does Section31 characterize a covered contract between a corporation and its direc…
2. Which relatives are expressly within Section31's covered dealings?
3. Which substantive condition is expressly required for the Section31 safeguards?
4. A director's presence is needed for a quorum when the board approves a contract with that director. The corporation has…
5. A corporation proposes a contract with an officer who is not a director. What additional officer-specific condition doe…
6. A seven-member board approves a fair contract to lease property from Director Ana. Four directors attend, including Ana…
7. A corporation vested with public interest proposes a material contract covered by Section31. The interested director's …
8. Explain why Section31 does not declare every director-corporation contract automatically void.
9. State the Section31 ratification conditions for a director or trustee contract where one of the first three safeguards …
10. A corporation contracts directly with its director's spouse and argues that no Section31 analysis is needed because the…
11. For a Section 31 material contract of a public-interest corporation, what denominator applies to the two-thirds board r…
12. For that material contract, must at least a majority of independent directors vote to approve?