Ontario Barrister and Solicitor Practice Exam

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Study for the Ontario Barrister and Solicitor Exam. Quiz with flashcards and multiple choice questions, each with hints and explanations. Prepare for your legal career!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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Who must approve a proposal to amend the name of a corporation?

The CEO
The board of directors
Two-thirds of voting shareholders
Any majority of shareholders

The correct answer is: Two-thirds of voting shareholders

The CEO is not responsible for approving a proposal to amend the name of a corporation. The CEO may be involved in the decision-making process, but it is not their sole responsibility. The board of directors is also not solely responsible for approval. While they may have a say in the decision, they are not the final decision-makers. Any majority of shareholders is not the correct answer because it does not specify how many shareholders make up the majority. This can vary depending on the size of the corporation and the number of shareholders. The answer, two-thirds of voting shareholders, is the correct option because it specifies a specific threshold for approval and involves the input of the majority of shareholders. This ensures that a decision is made with the consent of a significant majority of stakeholders.