Sullivan chbo - Study guides, Class notes & Summaries

Barth v. Barth Ans- Majority rule, however, majority owners have fiduciary duty to minority owners and business itself. In general, proper procedure for minority to challenge majority is a derivative action on behalf of the business. Bedrock Principle of Limited Liability Ans- Unless otherwise provided in the articles of incorporation, a shareholder of a corporation is not personally liable for the acts or debts of the corporation except that the shareholder may become personally li...

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