Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 27. buddy holly is the president of wesupportveter

27. Buddy Holly is the president of WeSupportVeterans, Inc., a not for profit charitable corporation....

80.2K

Verified Solution

Question

Accounting

27. Buddy Holly is the president of WeSupportVeterans, Inc., a not for profit charitable corporation. The mission of this corporation, as stated in the corporations articles of incorporation, is to provide vocational training to wounded veterans who have received honorable discharges from military service. Holly, a strong environmentalist, signs a contract on behalf of WeSupportVeterans, Inc. with the Sierra Club to assist the Sierra Club in hiring a lobbyist to advocate for various environmental issues. The directors of WeSupportVeterans, Inc. filed suit to rescind the contract. What would the Boards best argument be in court?

Group of answer choices

The contract violates the ultra vires rule

The contract violates the vicarious liability rule

The contract violates the vicarious liability rule

The contract violates the business judgment rule

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

We are evaluating a project that costs $2,190,000, has a 8-year life, and has no salvage...

Finance
Q

A chemist titrates 80.0mL of a 0.6050M trimethylamine CH33N solution with 0.2965M HNO3 solution at 25°C...

Chemistry
Q

In step the generated code is executed against the data to create the desired output...

Biology
Q

A car moves towards a hill with speed vc It blows a horn of frequency...

Physics
Q

Solve the logarithmic equation Be sure to reject any value of x that is not...

Algebra
Q

Construct a truth table for the following statement Identify if it is a tautology contradiction...

Algebra
Q

A manufacturing company applies factory overhead based on direct labor hours. At the beginning of...

Accounting
Q

White Corporation ha llegado a un acuerdo para transferir cuentas por cobrar a Murphy Company....

Accounting
Q

! Required information (The following information applies to the questions displayed below.) Chuck Wagon Grills,...

Accounting
Q

The stockholders equity accounts of Wildhorse Co. on January 1, 2022, were as follows. ...

Accounting
Q

Find the present value of the following stream of cash flows assuming that the firms...

Accounting
Q

You buy a share of The Ludwig Corporation stock for $20.60. You expect it to...

Finance