Asked by Gerson Torres on Jul 08, 2024
Verified
Any limits on the duration of the shareholder agreement must be set forth in the agreement.
Shareholder Agreement
A contract among shareholders of a company outlining their rights, obligations, and mutual agreements regarding company operations and governance.
Duration
The length of time during which something exists or continues.
- Identify the legal obligations and processes associated with shareholder agreements, voting, and meetings.
- Understand the versatility and restrictions associated with integrating and operating a statutory close corporation.
Verified Answer
DC
Dikira CherryJul 12, 2024
Final Answer :
True
Explanation :
The duration of a shareholder agreement, including any limits on that duration, must be explicitly stated within the agreement itself to ensure clarity and enforceability among the parties involved.
Learning Objectives
- Identify the legal obligations and processes associated with shareholder agreements, voting, and meetings.
- Understand the versatility and restrictions associated with integrating and operating a statutory close corporation.
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