Five friends, Adam, Bob, Carlos, Dan and Eric, start a business in Milwaukee whi

Question

Five friends, Adam, Bob, Carlos, Dan and Eric, start a business in Milwaukee which is properly set up as a regular Wisconsin corporation. Each of the five owns 20% of the shares in the corporation. Adam, Bob and Carlos are the directors of the corporation. Adam is the CEO and Bob is the CFO of the corporation. Dan and Eric are just passive investors with other jobs elsewhere.

please explain why, There CAN be multiple answers – write them ALL down

QUESTIONS: Signing a contract on A. Adam acting alone- behalf of the corporation. Bob acting alonev Starting a new 2. company that competes with the corporation.C Carlos acting alone Changing one of the Dan acting alone company's directors from Carlos to an outside director Eric acting alone Changing the CFO F.Adam, Bob, Carlos, Dan and Eric from Bob to Carlos. acting collectively at a meeting of the corporation's shareholders Deciding whether or G. not the corporation should pay dividends to shareholders. Adam, Bob and Carlos acting collectively at a meeting of the corporation's Board of Directorsv

Explanation / Answer

1 A,B,F,G As they are working as executing officials, no one else is 2 D,E,F As all are present and non conflicting roles 3 F,G All necessary stakeholders, Minimum all the board members 4 F,G Minimum all the board members 5 F,G Minimum all the board members

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