Quiz 1 Corporate Law

The general duty of a director are only ever owed to the company

• true

• false

Public company is required to have at least two resident directors

• True

• False

Name of private company should end with Bhd.

• True

• False

The persons who sign the Memorandum of Association of a company is called

• Shareholder

• Director

• Subscribers to MOA

• Promoters

Which one of the following most accurately describes the duty to exercise reasonable care, skill and diligence?

• The duty is entirely objective.

• The subjective element of the duty applies to all directors.

• The objective element applies to all directors, whereas the subjective element only applies to directors who have some special skill or ability.

• The duty is entirely subjective who have some special skill or ability.