BUS 207 Lecture Notes - Lecture 11: Prezi, Stock Certificate, London Underground C69 And C77 Stock
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Officers: serve at the pleasure of the board of directors - means the board has the right to fire and hire them. Initial first meeting: board members get elected, officers get hired. Two significant duties: duty of care and duty of. Duty of care (finish looking at prezi slides) Require quorum" = at least 50% of the shares must be represented (not. When you"re faced with a difficult decision, making that decision with reasonable information. Aka doing the best you can in difficult situations. Means no taking a business opportunity and using it for personal profit. No conflict of interests: ex. board members voting on whether they should use a certain supplier when one board member is a major shareholder in that company. Officiers and directors can be sued by the shareholders on behalf of the corporation, by the corporation, and by third-parties.
