In the case in the text,Coggins v.New England Patriots Football Club,Inc. ,the court held that:
A) Freezing out the minority shareholders was necessary to further the corporation's purpose.
B) The freeze-out of majority shareholders failed to meet the business purpose test.
C) The freeze-out of majority shareholders failed to meet the intrinsic fairness test.
D) Freezing out minority shareholders merely to allow the corporation to repay the majority shareholder's personal debts was not a proper business purpose.
Correct Answer:
Verified
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