Under Delaware law, shareholders of a public company always determine the CEO’s compensation by vote.

Which of the following is a benefit of incorporating in Delaware?

Bravo and Cox are 50/50 owners of Great Crepe LLP (GCL), a food truck business specializing in crepes. GCL’s partnership agreement provides, among other things, that any expenditure by the partnership in excess of $500 requires the unanimous approval of the partners. While having new tires put on her car at a tire shop, Bravo spots a sweet set of rims that she feels would be perfect for the GCL food truck and that are marked down by 40% to $600. Not wanting to miss out on such a great deal, she commits to buy them on behalf of GCL and makes an appointment for the next day to have them installed on the truck. Bravo tells Cox about the rims. Cox is against getting them so tells Bravo to cancel the deal. Is GCL bound on the transaction? Assume RUPA applies.

A Shooting Script does what?

Which of the following is a difference between a corporation and a limited liability company (LLC)?

A+ Plumbing defaults on a $20,000 equipment loan it took shortly after Remy’s investment.  Which of the following statements is true with respect to the loan?

The shareholders of Poodleclub prevails on the merits in a lawsuit against Ginger, a director of PoodleClub, in a breach of fiduciary duty claim brought on behalf of PoodleClub for the sale of Ginger’s Salvador Dali collection to PoodleClub for more than fair market value.  Ginger incurs $300,000 in legal fees defending the case and is ordered by the court to pay PoodleClub $500,000, because that is the amount the court determined PoodleClub overpaid for the collection.  Assume PoodleClub is incorporated in Delaware.  Assume Ginger and PoodleClub are not parties to an indemnification agreement.  Is PoodleClub required to indemnify Ginger?

Ivanka and Jared are starting a new LLC for the family licensing business, and they want to add the following provision to the LLC Agreement: “Notwithstanding anything in this Agreement to the contrary, no Member or Manager shall owe any fiduciary duties to the Company or any Members.” Is the provision valid?

Choose the statements below that are TRUE relating to head and neck cancer and dysphagia, as presented in the lecture and text. 

What does the phrase “the legal effect of interpretive authority” mean? (5 points)