Powers and Liabilities of Corporations

Question 1

What powers does a corporation have without shareholder approval

Answer 1

1) Acquire Shares
2) Retire Shares
3) Make Charitable contributions

Question 2

What powers does a corporation need shareholder approval to do

Answer 2

Make loans to directors

Question 3

A business is generally liable

Answer 3

for torts committed by employees within the scope of employment

Question 4

Intentional Torts

Answer 4

usually fall outside the scope of employement

Question 5

When does Intentional torts fall within the scope of employment?

Answer 5

1) Fraud where agent authorized or appears to authorize

2) Violence (if Foreseeable)

Question 6

An injured party

Answer 6

can hold the employee and corporation liable for intentional torts

Question 7

Corporations

Answer 7

can be found liable for crimes

Question 8

Directors

Answer 8

can face prison sentences for crimes committed by their corporation