Roy, a director of Service & Sales Corporation, does not attend a board meeting for three years. During that time, Terry, the firm’s president, makes improper loans that cost the company $10 million. Roy is most likely liable for breach of ___.

Nina is a director of Outback Outfitters, Inc. Under the standard of due care owed by directors of a corporation, Nina’s decisions must be informed and​ ___.

Business Rental Corporation (BRC) and Cartage Trucking Company enter into a contract for a lease of ten hydraulic lifts. Under the perfect tender rule, BRC must ship or tender goods to the lessee that​ ___.

Nora and Owen do business as Profit & Property, a real estate investment partnership. In acting on the firm’s behalf in a deal with Village Mall, Nora takes advantage of an opportunity to make a secret profit on her own behalf. To her firm, Nora is liable for​ ___.

The common law is a term for the laws that are familiar to most of us.​

In a corporation, who has the responsibility for management of the company?

If an action is legal, it is ethical.​

Ross, a research manager for Stock & Bond Investments, Inc., adheres to utilitarian ethics. Ross will determine that an action is morally correct when it produces the greatest good for​ ___.

An Oklahoma state court can exercise jurisdiction over Petro Resources Inc., an out-of-state company, if the firm has​ ___.

Lyle and Miranda agree that Lyle will fix the refrigeration unit in Miranda’s Buns n’ Burgers in exchange for her payment of a debt that Lyle owes to New Credit Corporation. New Credit is​ ___.