In a corporation with cumulative voting, x has only ten shares. Each share has o
ID: 383152 • Letter: I
Question
In a corporation with cumulative voting, x has only ten shares. Each share has one vote. There are three directors to be elected. Explain the possible voting methods X can fo11ow. 6. If A, as president of B Corporation, learns of a good buy in 1and that the corporation expected to buy and would use profitably, can A buy the 1and personally without informing the corporation? Explain 7. 8. A11 the directors of X Corporation vote to convey by deed corporate 1and to Z. Each of the directors votes separately on the matter without a board meeting. Is such a vote binding on the corporation? Explain.Explanation / Answer
6. He can split his votes between the three candidates at his will. Otherwise he can participate in any one of the three voting and use all his votes for one candidate.
7. He can buy it with his own money for himself, but he can not buy it with money from corporation.
8. Yes. They can decide the meeting as taking place, without physically meeting at one place, with their consent, and can vote from anywhere.