Multiple choice

1. Zero Sum Games Corporation has forty-three shareholders. The minimum number that must be present at a meeting for a shareholders’ vote is

a. a quorum.

b. three of the shareholders.

c. a proxy.

d. all of the shareholders.

2. Whit is a director of Vids Corporation. With respect to policymaking decisions necessary to the management of corporate affairs, Whit and the other Vids directors have responsibility for

a. none of the decisions.

b. all of the decisions.

c. only the decisions referred to them by the officers.

d. only the decisions referred to them by the shareholders.

3. Eton is a limited partner in Fullbore Sales, a limited partnership. Grant Credit Company, a Fullbore creditor, claims that Eton is subject to personal liability for Fullbore's debts because Eton has the right, as a limited partner to take control of the firm. Grant is correct about

a. Eton's right to control the firm only.

b. Eton's liability only.

c. neither Eton's liability nor his right to control the firm.

d. Eton's liability and his right to control the firm.

4. Felicity and Gideon want to form and do business as Home Healthcare Corporation. A corporation is

a. a natural being.

b. a tangible thing.

c. a visible radiance.

d. an artificial person.