Ask Question, Ask an Expert


Ask Business Law & Ethics Expert

1. Bernie is a director of BALCO Co. Bernie has missed last two director’s meetings. Could the shareholders remove Bernie if the corporate by laws give the power of removal to the other directors?

2. Flushes R Us, Inc. (FRU) is a corporation whose principal business is the manufacturing and sale of toilets.  Gert is a manager in charge of the employees in FRU's product delivery division.  Eddie is one of the employees in that division.  One day, while Eddie was en route to a retail customer's place of business (where he was to make the delivery of a large quantity of FRU toilets), Eddie negligently operated truck he was driving and caused injury to a pedestrian.  Due to this, Eddie was violating a specific corporate directive that employees were not to be negligent.  The injured pedestrian filed suit against Eddie, Gert, and FRU in an effort to get money damages for her injuries. Who is liable?  Why?

3. Ellen is the president of Ajax Co. Briefly describes Ellen’s duties to Ajax.

4. Dana is treasurer of Smith Co. In her capacity as treasurer, Dana borrows large sum of money from National Bank. Was Dana authorized to do this in her capacity as Smith Co. treasurer? What could the corporation do in this situation?

5. Ace Motors, an automobile manufacturer, has been experiencing problems with the particular model. Many people have been killed in accidents resulting from poor design and location of the fuel line in the car. Can officers and directors of the corporation be held liable for these damages and deaths?

Case Problem

Following one year of negotiations, James McDougal signed the agreement to purchase the Bank of Kingston. The sellers were the majority shareholders in First National Bank of Huntsville, the only other bank in the county. The sales agreement included a provision prohibiting the buyer from moving the bank to Huntsville for a period of 1 0 years. McDougal signed the agreement to purchase the bank stock as “James B. McDougal, Agent.” About three months after the purchase, the board of directors of the Bank of Kingston changed the name of the bank to Madison Bank and Trust. Shortly thereafter, they began efforts to move the bank’s main office from Kingston to Huntsville. The sellers sought an injunction to force the bank to comply with the provision in the sales agreement which prohibited such move. Bank defended on the grounds that McDougal, its president, acted outside of his authority in signing the agreement. Is the covenant not to move to Huntsville enforceable against the bank? Describe.

Business Law & Ethics, Finance

  • Category:- Business Law & Ethics
  • Reference No.:- M91352

Have any Question? 

Related Questions in Business Law & Ethics

Ethics and financial services-ethics lens personal

Ethics and Financial Services- ETHICS LENS PERSONAL REFLECTIVE STATEMENT Requirements: Part 1: Complete 'Ethics Game' Ethical Lens Inventory (ELI) simulation and submit the report; (Refer to Cloud site for resources and ...

In your answer to this question use the numerical example

In your answer to this question, use the numerical example from the section on Ricardo's theory of comparative advantage. What is the effect on the pattern of trade predicted by the Ricardian analysis if the number of la ...

Part 1in todays correctional environment it is very

Part 1 In today's correctional environment, it is very important to establish a method of correctional treatment. In this assignment, you will address the following scenario: • As a correctional administrator, you are in ...

Research paper draftreview the research paper instructions

Research Paper Draft Review the Research Paper instructions found in Week Five. The Research Paper is due in Week Five. To help with the preparation of the research paper, complete the following and submit it to your ins ...

Write a two to three 2-3 page paper in which youexamine the

Write a two to three (2-3) page paper in which you: Examine the underlying historical and economic reasons behind the quest for alternatives to incarcerating offenders in jails and prisons. Describe three (3) alternative ...

Introduction and alignmentin this case study assignment you

Introduction and Alignment In this case study assignment, you will explore the similarities between a modern federal court case of your choosing and cases tried in earlier federal courts. You will also consider why a cas ...

Question 1two years ago peta purchased a house in kew this

Question 1 Two years ago Peta purchased a house in Kew. This house had two old tennis courts down the back which were in poor condition. She purchased the property for two reasons: • so that she and her family could live ...

Ed and wendy are a married couple with no children each

Ed and Wendy are a married couple with no children. Each earns $85,000 per year, and their combined household adjusted gross income is $170,000. John and Kristen also have $170,000 in combined household adjusted gross in ...

For your first submission you need to create a fictional

For your first submission, you need to create a fictional organization (or a real one) for which you will give a presentation. You should describe the organization in detail, providing necessary information such as the s ...

Principles of commercial law assignments- assignment 1 -

PRINCIPLES OF COMMERCIAL LAW ASSIGNMENTS- Assignment 1 - Problem Question Golf Unlimited Pty Ltd (GU) owns the Royal Glen Golf course at Glenelg in South Australia which was the site for the Australian Golf Championship ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate