Eloise is a director for Frozen Yogurt Company. Eloise is also a director for Gelato Desserts, Inc When the board of Frozen Yogurt considers entering into a contract with Gelato Desserts, Eloise must
a. resign from one of the boards.
b. resign from both boards.
c. make a full disclosure of any conflict of interest.
d. use her best business judgment in voting on the proposed deal.
C
You might also like to view...
What type of account is Premium on Bonds Payable?
A) valuation account B) contra account C) accumulation account D) adjunct account
A variable ratio plan adjusts a portfolio's weights by investing more heavily in the asset that has performed poorly in the recent past
Indicate whether the statement is true or false.
In Certified Fire Protection v. Precision Construction, Precision accepted a winning bid from Certified for it to install a fire suppression sprinkler system. Later the two parties got into a fight over some details in the contract, which was never signed. The courts held that the contract was:
a. properly accepted, so there was a binding contract b. accepted with minor modifications that were not critical to the intent of the contract, so it was binding c. never formed as there were disagreements over major provisions d. never formed because Certified was not licensed by the state to do such work e. none of the other choices
The Privacy Rights Clearinghouse is a non-profit organization that provides reports, guidelines, education, and research on securing your personal information
Indicate whether the statement is true or false