The duty of care that must be exercised by corporate directors is the care that an ordinary

prudent person in a like position would use under similar circumstances.

Indicate whether the statement is true or false

TRUE

Business

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The duties imposed on a party may be transferred to another party by delegation, unless the contract expressly restricts delegation.

Indicate whether the statement is true or false.

Business

If demand changes considerably, with a small change in price, the demand is said to be ________

A) unit elastic B) elastic C) inelastic D) marginal E) strained

Business