Melvin topic fiduciary duties of officers and

Melvin - Chapter 15 #18
Topic: Fiduciary Duties of Officers and Directors

19.
(p. 381)
Any corporation that does not make money is classified as a nonprofit corporation.
AACSB: Analytic
Blooms: Understand
Difficulty: Medium
Learning Objective: 15-01 Articulate the concept of the corporation as a legally independent person.
Melvin - Chapter 15 #19
Topic: Other Categories
20.
(p. 391)
The authority of an officer to bind the corporation must expressly flow from the bylaws or through
board of director mandates.
AACSB: Reflective Thinking
Blooms: Evaluate
Difficulty: Hard
Learning Objective: 15-07 Describe the fundamental structure and roles for officers; directors; and shareholders in the corporate form of entity and understand the
functions of each role and how the structure is governed.
Melvin - Chapter 15 #20
Topic: Officers
21.
(p. 380)
Corporations are afforded full First Amendment political speech protection.
AACSB: Analytic
Blooms: Understand
Difficulty: Medium
Learning Objective: 15-02 Identify the sources and level of law governing formation and internal corporate matters.
Melvin - Chapter 15 #21
Topic: Corporations

22.
(p. 380)
A closely held corporation may be privately held or publicly held depending on the status determined
at creation.
AACSB: Reflective Thinking
Blooms: Evaluate
Difficulty: Hard
Learning Objective: 15-01 Articulate the concept of the corporation as a legally independent person.
Melvin - Chapter 15 #22
Topic: Privately Held versus Publicly Held Corporations
23.
(p. 389)
Shareholders are the owners of the corporation and, in part, act principally through electing and
removing officers.
AACSB: Reflective Thinking
Blooms: Apply
Difficulty: Hard
Learning Objective: 15-07 Describe the fundamental structure and roles for officers; directors; and shareholders in the corporate form of entity and understand the
functions of each role and how the structure is governed.
Melvin - Chapter 15 #23
Topic: Structure, Management and Operation