27. A shareholder who cannot be present at a meeting can vote by another person

Question

27. A shareholder who cannot be present at a meeting can vote by another person to vote on his or her behalf that is, by a written authorization for a. proxy b. allowance c. record d. nomination 28. A(n) stated price, us ally_ is a public offer to all the of a(n)corporation to buy their shares at a than the market price. a. tender offer, shareholders, target, higher b. leveraged buyout, shareholders, target, higher c. tender offer, directors, acquiring, below d. tender offer, shareholders, target, below 29. Which of the following is generally true regarding the liability of members of a limited liability partnership for malpractice? a. Members split evenly among themselves 50% of any assessed liability for malpractice against any member with the limited liability company retaining liability for the remaining 50%. b. Members are not liable for their own malpractice or for the malpractice of other members because recovery for malpractice may only be obtained from assets of the limited liability partnership itself. c. Members are liable for their own malpractice but not for the malpractice of other members. d. Members are liable for their own malpractice and also for the malpractice of other members.

Explanation / Answer

27. The correct answer is “a. proxy”.

A shareholder can use proxy voting to delegate his/her voting rights to other person by written authorization. This person can cast vote on the shareholder’s behalf.

28. The correct option is “a. tender offer, shareholders, target, higher”.

Tender offer refers to an offer for purchasing the shares of some or all of the shareholders. It is a public offer where all shareholders of a corporation are invited to tender their shared at a premium price which is higher than the market rate.

29. The correct option is “c. Members are liable for their own malpractice but not for the malpractice of other members.”

In limited liability partnership (LLP), each member would be liable for his/ her own malpractice. Other members will not be responsible for any debt, obligation, malpractice or negligence of a person.

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