Which of the following would a court most likely require in order to find there is no legal impediment to Marion proceeding to pursue a corporate opportunity declined by the corporation in which she holds a fiduciary position?
A) a resolution enacted by the corporation declining the corporate opportunity
B) a consenting resolution passed by the directors of the corporation
C) a consenting resolution passed by the shareholders of the corporation
D) a resolution enacted by the corporation's consenting shareholders and directors

Question

Quizplus · Accepted Answer

A court would most likely require a resolution enacted by the corporation's consenting shareholders and directors to find there is no legal impediment to Marion pursuing a corporate opportunity declined by the corporation. This ensures that both the directors and shareholders are aware of and agree to the decision, providing a clear and comprehensive consent that respects the fiduciary duties involved.

Which of the Following Would a Court Most Likely Require