Question

Suzy signs a written agreement with Phillip, giving Phillip the right to cast Suzy's votes for a certain group of people nominated for the Syllibar Corporation board of directors. This agreement between Suzy and Phillip is known as a: a. cumulative voting agreement. b. subpoena. c. derivative agreement. d. proxy.

Answer 1

Answer: D. Proxy

Explanation: The agreement between Suzy and Phillip is a proxy agreement. From the context above, Suzy signs an agreement given Phillip the legal power to cast a vote on her behalf. This means any vote casted by Phillip will be viewed as carried out or performed by Suzy as Phillip has been granted the legal permission to do so. Using the power of substitution, a shareholder can assign an individual as his or her proxy and exercise the voting right of the shareholder.

Answer 2

Answer:

Option A

Explanation:

It is cumulative voting agreement, as everything about the question just points to it. Suzy and Philip agreements was to aid voting for a certain group of people nominated for the Syllibar Corporation board of directors. It is cumulative because it both of them votes will aid a certain good of people nominated for the syllubar directors ,without both of them colliding to aid this voting it is possible it the group of people might not make it ,so the cumulative of both is will make the nomination work.