role and purpose of LLE

Question 1

cORPORATIONS HAVE

Answer 1

sep goals and reasons for existing

Question 2

purposes of corp

Answer 2

1. Enhance corporate profit and shareholder gain.
2. Can take ethical considerations that are reasonable.
3. Must act within the law.
4. Can devote reasonable amount of resources to public welfare, humanitarian, educational, and philanthropic.
   a. Essentially, not all about short term profit.
   b. Long term profitability and shareholder gain are at the core.

Question 3

Business judgement rule

Answer 3

1. Presumption that in making business decisions the directors of a corporation acted on informed basis, in good faith, and in the honest belief that the action was taken in the best interests of the company.
   a. Directors can make the decisions on what to do with the cash.

Question 4

ulta vines

Answer 4

beyond the scope, so void.

Question 5

courts defer to business judgement rule unless P proves

Answer 5

fraud, illegality, or conflict of interest.

Question 6

We presume there is no

Answer 6

fraud, illegality, or conflict of interest.

Question 7

Courts protect minority stockholders from

Answer 7

exploitaitom, but not business deciisons within discretionary powers as long as they are honest.

Question 8

court wont

Answer 8

substitute judgement of corproate directors in absence of bad faith or fraud.