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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Ch 40-1 Corporations Directors & Officers

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Q 1) A is a director of X Corporation, a corporation that buys and rents real estate. A hears about a super deal on some prime real estate from his brother Morty. Under what circumstances (if any) can A purchase the property for himself? 2) A is a director of X Corporation, a corporation that buys and rents real estate. A also owns a bank. X would like to refinance the building. Under what circumstances (if any) can A's bank make the loan to X?

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) A property can be bought by A only when there has been an authorization provided to A by the Board of Directors. A property can also be bought by A when there has been an authorization provided to A by a corporation so that there can be the possession of a property by A on behalf of a corporation.