With regard to corporate law, which of the following is true?
A) A shareholder in a closely-held corporation is always entitled to sell his shares to whomever he wishes.
B) The charter document of a B.C. company is called the "Articles of Incorporation," and it contains an objects clause, i.e., a clause setting out the limits of the company's business.
C) Federal corporations are created only by special acts of Parliament.
D) Shareholders shall manage the affairs of the corporation and they must exercise care, diligence, and skill in doing so.
E) Par value shares may be misleading because the share, after being issued, will be valued by market forces and that value may not be the value on the face of the share.
Correct Answer:
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