A. In general, what is considered a fundamental change in a corporation? Give three examples of what would be considered a fundamental change. b. Bill is a minority shareholder in B & B, Inc He opposes a fundamental change that is approved and implemented. What rights does he have?
a.
A fundamental change alters the basic structure of a corporation. Fundamental changes include charter amendments, the sale or lease of all or substantially all of a corporation's assets other than in the regular course of business, mergers, consolidations, compulsory share exchanges, and dissolution of the corporation.
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b. A shareholder's right to dissent, a statutory right to obtain payment for shares, is accorded to shareholders who object to certain fundamental changes in the corporation. If Bill dissents and strictly complies with provisions in the corporate statute, he is entitled to receive the fair value of his shares, plus accrued interest. In order to perfect his right to payment for his shares, Bill must make a written demand on the corporation within the time period set by the corporation. A dissenting shareholder that complies with all of the statutory requirements is entitled to an appraisal remedy. The fair value of his shares would be the value immediately preceding the effectuation of the change to which he objects, excluding any change in value that occurs in anticipation of that corporate action.
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Jose was concerned about a memo he received from his supervisor, Kayla, regarding a change in the pay structure. He was anxious for a response and did not know where she was, so he sent her a text message asking specific questions about the memo. Kayla received the message and, given its complexity, did not respond right away. Jose became frustrated and even more anxious about the changes, and ultimately went to Kayla’s immediate supervisor for clarity. This created problems in his working relationship with Kayla and Kayla’s supervisor. Given the complexity of the message, what communication channel should Jose have used in the first place to avoid this situation?
a. e-mail b. memo c. social media d. face-to-face
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Indicate whether the statement is true or false
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