BLAW 3310 EXAM REVIEW 2026
ACCURATE QUESTIONS AND CORRECT
SOLUTIONS MASTER STUDY SHEET
◉ Orin is a corporate officer for Pacific Trade Inc. In this capacity,
Orin a. authorizes major corporate policy decisions. b. manages
corporate day-to-day operations. c. makes executive personnel
decisions. d. makes and announces financial decisions. Answer:
manages corporate day-to-day operations
◉ Roz, a director of Soy Inc., is specially trained in petroleum
trading. Soy's board approves several deals in which the company
pays too much for soybeans. Roz approves all the deals without first
reviewing them. Roz is most likely liable for breach of. Answer: The
duty of care
◉ Buck is a director on the board of Construction Corporation. The
board delegates work to Don, Construction's president, and other
corporate officers. Buck fails to reasonably supervise the work. He is
most likely liable for. Answer: negligence or mismanagement
◉ 1. Kathy is a director of Line Production Inc. As a director, with
respect to the corporation, Kathy is expected to subordinate.
Answer: her personal interests to the corporations welfare
,◉ Gil is an officer for HVAC Corporation. Due to Gil's choice of a
certain supplier, HVAC's costs are somewhat higher than they might
have been if a different supplier had been chosen. Gil is most likely
liable for. Answer: nothing
◉ 1. Paul is a director on the board of Quality Tire Corporation. As a
director, Paul may not. Answer: self dealing
◉ Ben is a director of Creation Corporation, an architectural firm.
Without informing Creation, Ben goes into business with Design,
Inc., a Creation competitor. Ben is liable for breach of. Answer: the
duty of loyalty
◉ Roy is a director of Sales Service Inc. Sales enters into a contract
with TeleCenter Corporation in which Roy has a personal interest.
Roy must. Answer: make a full disclosure of the conflict of interest
◉ Guy is a director of Healthcare Corporation. Guy attempts to use
his best judgment in guiding corporate management but makes a
few honest mistakes. His best defense against liability for these
mistakes is. Answer: business judgement
, ◉ Ned and Olga are shareholders of Pizza Pies Inc. Ned's written
authorization to Olga to vote Ned's shares at a shareholders'
meeting is. Answer: a proxy
◉ Erin, a shareholder of Finance Inc., demands the right to inspect
corporate books and records to determine whether management
has engaged in self-dealing that impacts the company. The firm
refuses the request. On Erin's challenge, a court is most likely to hold
that her request constitutes. Answer: a proper purpose
◉ Don is a shareholder of Energy Renew Inc. When the directors fail
to undertake an action to redress a wrong suffered by the firm, Don
files a suit on its behalf. Don's suit is. Answer: a shareholder's
derivative suit
◉ Huan is a shareholder of Insulation Inc. When the directors fail to
undertake an action to redress a wrong suffered by the firm, Huan
files a suit on its behalf. Any damages recovered by the suit will go to
the firm's. Answer: Treasury
◉ Brad is a shareholder of Cloud Servers Inc. He will be deemed to
have a fiduciary duty to Cloud and its minority shareholders if he
has a sufficient number of shares to. Answer: exercise actual control
◉ Avery wants to go into business as Boom! to make and market
fireworks. When deciding which form of business organization
ACCURATE QUESTIONS AND CORRECT
SOLUTIONS MASTER STUDY SHEET
◉ Orin is a corporate officer for Pacific Trade Inc. In this capacity,
Orin a. authorizes major corporate policy decisions. b. manages
corporate day-to-day operations. c. makes executive personnel
decisions. d. makes and announces financial decisions. Answer:
manages corporate day-to-day operations
◉ Roz, a director of Soy Inc., is specially trained in petroleum
trading. Soy's board approves several deals in which the company
pays too much for soybeans. Roz approves all the deals without first
reviewing them. Roz is most likely liable for breach of. Answer: The
duty of care
◉ Buck is a director on the board of Construction Corporation. The
board delegates work to Don, Construction's president, and other
corporate officers. Buck fails to reasonably supervise the work. He is
most likely liable for. Answer: negligence or mismanagement
◉ 1. Kathy is a director of Line Production Inc. As a director, with
respect to the corporation, Kathy is expected to subordinate.
Answer: her personal interests to the corporations welfare
,◉ Gil is an officer for HVAC Corporation. Due to Gil's choice of a
certain supplier, HVAC's costs are somewhat higher than they might
have been if a different supplier had been chosen. Gil is most likely
liable for. Answer: nothing
◉ 1. Paul is a director on the board of Quality Tire Corporation. As a
director, Paul may not. Answer: self dealing
◉ Ben is a director of Creation Corporation, an architectural firm.
Without informing Creation, Ben goes into business with Design,
Inc., a Creation competitor. Ben is liable for breach of. Answer: the
duty of loyalty
◉ Roy is a director of Sales Service Inc. Sales enters into a contract
with TeleCenter Corporation in which Roy has a personal interest.
Roy must. Answer: make a full disclosure of the conflict of interest
◉ Guy is a director of Healthcare Corporation. Guy attempts to use
his best judgment in guiding corporate management but makes a
few honest mistakes. His best defense against liability for these
mistakes is. Answer: business judgement
, ◉ Ned and Olga are shareholders of Pizza Pies Inc. Ned's written
authorization to Olga to vote Ned's shares at a shareholders'
meeting is. Answer: a proxy
◉ Erin, a shareholder of Finance Inc., demands the right to inspect
corporate books and records to determine whether management
has engaged in self-dealing that impacts the company. The firm
refuses the request. On Erin's challenge, a court is most likely to hold
that her request constitutes. Answer: a proper purpose
◉ Don is a shareholder of Energy Renew Inc. When the directors fail
to undertake an action to redress a wrong suffered by the firm, Don
files a suit on its behalf. Don's suit is. Answer: a shareholder's
derivative suit
◉ Huan is a shareholder of Insulation Inc. When the directors fail to
undertake an action to redress a wrong suffered by the firm, Huan
files a suit on its behalf. Any damages recovered by the suit will go to
the firm's. Answer: Treasury
◉ Brad is a shareholder of Cloud Servers Inc. He will be deemed to
have a fiduciary duty to Cloud and its minority shareholders if he
has a sufficient number of shares to. Answer: exercise actual control
◉ Avery wants to go into business as Boom! to make and market
fireworks. When deciding which form of business organization
