ABC Corporation has 15 Board of Directors. The bylaws of ABC requires 10 directors for there to be a quorum. Mr. Y, one of the directors, wanted to enter into a contract with the company. In a meeting called for that purpose, 10 directors attended included therein is Mr. Y. In said meeting, the contract was approved in favor of Mr.Y. What is the status of the contract entered into by the company with Mr.Y?  Based on your answer in the preceding question, what is needed to cure the defect of the contract?  pls help me. thank you

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After a company receives a charter, what are the rules and procedures prepared by the corporate management and the board of directors for conducting the corporation's affairs called! Group of answer choices bylaws contract charter stock certificate

What is the required treatment of each of the below events in the financial statements? Justify your decisions.    a) On 25 July 20X9, Carey settled and paid a claim involving prior employees alleging sexual discrimination as a result of promotions announced at the Christmas party in 20X8. Five women who had been overlooked for management promotions undertook legal action in March 20X9.   b) On 1 August 20X9, Carey Ltd made an announcement to the Singapore Stock Exchange of its intention to take over a private engineering partnership. This would increase sales revenue of Carey Ltd by 15%. It was to be funded by a 1:10 rights issue.   c) On 12 August 20X9, a fire damaged the head office of Carey. The buildings, fixtures and fittings were only partly insured.   d) At its 5 September 20X9 meeting, Carey’s board of directors voted to double the advertising budget for the coming year and authorised a change in advertising agencies.