Darius is a shareholder of Energy Renewable, Inc When the directors fail to undertake an action to redress a wrong suffered by the corporation, Darius files a suit on the firm's behalf. ? Darius's suit is a shareholder's?
A) reimbursement suit
B) derivative suit.
C) business judgment rule suit.
D) preemptive suit.
B
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Under U.S. GAAP, which of the following items would require a lessee to classify a lease of equipment as a capital lease?
a. There is no transfer of ownership to the lessee at the end of the lease term. b. The lease does not contain a bargain purchase option. c. The lease term is 90% of the estimated economic life of the lease property. d. The present value of the contractual minimum lease payments is 75% of the fair value of the leased property.
The various types of meetings created by communication technology vary in terms of:
a. time and distance. b. time and place. c. place and structure. d. structure and cost.
Jerry purchased a laptop computer for his personal use from Computer City on an installment loan contract. The sales contract stated that in the event the contract is assigned to a third party, the purchaser (Jerry) promises he will not assert any claim or defense against the assignee which he might have against Computer City. Computer City immediately assigns the contract rights to Finance USA
The computer stops working within two weeks of the purchase. a. This is a valid waiver of defense clause. Jerry signed the contract, so he can't raise a defense to Finance USA. b. Finance USA is an intended third party beneficiary and may therefore enforce the contract. c. In general, this type of waiver is not permitted in consumer contracts, so Jerry can raise his claim against Finance USA. d. This is a delegation of Jerry's duties and the delegator remains liable on the contract unless a novation agreement is made.