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In Order to Find an Absence of a Legal Impediment

Question 30

Multiple Choice

In order to find an absence of a legal impediment to Marion proceeding to pursue a corporate opportunity declined by the corporation in which she holds a fiduciary position,which of the following would a court most likely require?


A) a resolution enacted by the corporation declining the corporate opportunity
B) a consenting resolution passed by the directors of the corporation
C) a consenting resolution passed by the shareholders of the corporation
D) a resolution enacted by the corporation's consenting shareholders and directors

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