Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 26.the business judgment rule a.is an obsolete 19t

26.The Business Judgment Rule a.is an obsolete 19th Century corporate legal principle. b.protects corporate directors...

50.1K

Verified Solution

Question

Accounting

26.The Business Judgment Rule

a.is an obsolete 19th Century corporate legal principle.

b.protects corporate directors from liability.

c.does not apply to directors of close corporations.

d.requires the application of hindsight to decisions made by corporate directors.

27.Bill signed a promissory note for $10,000 to Mary in payment of 1,000 boxes of girl scout cookies. Mary negotiated the note to Sally, a holder in due course, for $9,000. Sally comes to Bill to collect on his note. What defenses are NOT successful against Sally, the HDC?

a.The defense that the cookies were never delivered.

b.Fraud in the inducement.

c. Fraud in the execution.

d.a. and b.

28.Which of the following ways do you convert a bearer negotiable instrument to an order negotiable instrument?

a.Indorse without recourse and sign the indorsement.

b.Indorse with Pay to Lester Moore and sign the instrument.

c.Indorse with signature only.

d.None of the above.

29.Failure to perfect a security interest in an item of collateral leads to the following groups having priority over the unperfected party.

a.Buyers in the ordinary course of business

b.Judgment lien creditors.

c.Creditors with a perfected security interest.

d.All of the above.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Psychology
1.2K views

In Learning Plan 6 we explore the process of conducting research. For this discussion you are...

Biology
1.2K views

Studies of oxygen transport in pregnant mammals show that the O saturation curves of fetal...

Biology
1.2K views

Choose the correct answer A person in Michigan applying for a job in Alabama can...

Physics
1.2K views

28 A When a coil is connected current through it is zero R When a...

Physics
1.2K views

A square plate of mass 6 kg and side 2 m hinged about its centre...

Statistics
1.2K views

9 5 points Contaminated water The concentration of benzene was measured in units of milligrams...

Calculus
1.2K views

3 4 018 MI Find the derivative of the function f t 7t sin t...

Algebra
1.2K views

Fill in the blank in the sentence below so that the resulting statement is true...

Accounting
1.2K views

Check my work Factor Company is planning to add a new product to its line....

Accounting
1.2K views

ebook Payroll Register The following data for Throwback Industries Inc. relate to the payroll for...

Accounting
1.2K views

enabled: Comprehensive Final Exam i Help Save & E EPCC Copy Company applies factory overhead...

Finance
1.2K views

Sunburn Sunscreen has a zero coupon bond issue outstanding with a $10,000 face value that...