(Answered) A vincent a director of the santa clara corporation sold a

Management Studies

(a) Vincent, a director of the Santa Clara Corporation, sold a piece of vacant land to the Santa Clara Corporation for $700,000. The land cost him $300,000.

(b) Sampson, a shareholder of the Santa Clara Corporation, sold a used truck to the Santa Clara Corporation for $9,000, although the truck is worth $7,000.

Taylor, a minority shareholder of the Santa Clara Corporation, sued claiming that these sales are void and should be annulled. Is he correct? Why? Please explain.

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