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Question
Express authority is authority declared in clear, direct, definite terms.Answer
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Wilbur files a petition in bankruptcy for relief through an individual's repayment plan. Wilbur is granted a discharge. Debts that will not be discharged include claims for
A.contributions to employee benefit plans.
B.money to be paid for services not rendered.
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For action to be taken during a shareholders' meeting, a quorum must be present.
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The article of corporation cannot exclude shareholders' voting rights.
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A board of directors can delegate some functions to corporate officers.
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Directors are rarely compensated, but when they are, they can set their own compensation.
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A director usually serves on a corporation's board for a life term.
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An individual director does not act as an agent to bind the corporation.
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"Forward-looking" financial forecasts are prohibited under SEC Rule 10b-5.
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