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Flashcards — Multiple Choice

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Essay Multiple Choice

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All Jurisprudence based

0 tracked cards Commercial and Taxation Laws

A corporation has100 shareholders. Ninety attend, but together they represent only40% of the outstanding voting stock. No different Code or bylaw quorum applies and no other shares are represented. Management relies solely on90% headcount. What is correct?

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Quorum is automatically waived by management Only the number of directors matters Headcount necessarily establishes quorum Every meeting needs exactly100 persons regardless of capital The default stock-corporation quorum is not met

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