Management and control — Flashcards

Management and control Bar Exam Flashcards - Medical Study Cards

Master Management and control with Oncourse flashcards. These spaced repetition flashcards are designed for medical students preparing for NEET PG, USMLE Step 1, USMLE Step 2, MBBS exams, and other medical licensing examinations.

Management and control Flashcard Deck - 10 Cards

Flashcard 1: Who generally manages a corporation under the default rule?

Answer: The board of directors manages the corporation’s business and affairs, subject to the corporation statute and articles or bylaws. Shareholders generally elect directors but do not manage ordinary business decisions.

Flashcard 2: Who may remove a corporate director, and what is the majority rule?

Answer: Shareholders generally may remove directors with or without cause unless the statute or governing documents limit removal, such as by requiring cause or prohibiting removal of directors elected by cumulative voting. The board generally cannot remove a director merely because it disagrees with the director’s vote.

Flashcard 3: How are ordinary and extraordinary LLC decisions generally approved?

Answer: Under the majority default rule for a member-managed LLC, ordinary-course decisions are approved by a majority of the members based on their interests, while extraordinary matters generally require unanimous member consent. The operating agreement and applicable LLC statute may change these requirements.

Flashcard 4: What authority does a member or manager have to bind an LLC?

Answer: A member of a member-managed LLC, or a manager of a manager-managed LLC, generally has authority to conduct ordinary-course business. Authority may be limited by the operating agreement, but the LLC can still be bound when a third party reasonably relies on apparent authority.

Flashcard 5: What is a quorum of a corporate board?

Answer: A quorum is the required minimum number of directors present to conduct business, usually a majority of the authorized number of directors. A board action taken without a quorum is generally invalid unless properly ratified.

Flashcard 6: What vote is generally required for directors to approve corporate action?

Answer: Under the majority rule, action requires a quorum to be present and approval by a majority of the directors present, unless the governing law or documents require more. Abstentions generally count as neither votes for nor against.

Flashcard 7: What is cumulative voting, and what is its purpose?

Answer: Cumulative voting allows a shareholder to multiply the number of shares owned by the number of director seats being filled and cast the total for one or more candidates. Its purpose is to help minority shareholders obtain board representation, but it applies only when authorized by the governing law or corporate documents.

Flashcard 8: Under the majority default rule, who manages an LLC?

Answer: A member-managed LLC is the majority default rule, so each member may participate in management and has authority in the ordinary course of business. A manager-managed LLC is managed by designated managers, while members generally retain voting rights on specified major matters.

Flashcard 9: What matters generally require shareholder approval?

Answer: Shareholders generally vote on electing directors, removing directors when permitted, fundamental transactions, certain amendments to the articles, and dissolution. The board usually proposes these actions, and the required vote is set by statute and the governing documents.

Flashcard 10: What authority do corporate officers have?

Answer: Officers have the actual authority granted by the board, bylaws, or governing law and the apparent authority reasonably associated with their position. The corporation may be bound to a third party who reasonably relies on an officer’s apparent authority, even if the officer exceeded actual authority.

Keywords: Management and control flashcards, medical flashcards, NEET PG preparation, USMLE Step 1 flashcards, Anki alternative, spaced repetition medical, Oncourse flashcards

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About Management and control Flashcards for Bar Exam

These Management and control flashcards are designed for Bar Exam Business Associations and Relationships preparation, using active recall to help you retain high-yield concepts, clinical correlations, and commonly tested facts. Each card prompts you to retrieve information from memory rather than passively reviewing notes, which research shows leads to significantly better exam performance.

The 10 cards in this deck cover the most important topics in Management and control, including key mechanisms, diagnostic criteria, treatment protocols, and clinical pearls that frequently appear in Bar Exam examinations. Cards are organised by chapter so you can focus on specific areas or work through the entire topic systematically.

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Frequently Asked Questions

Are Management and control flashcards free on Oncourse?

Yes, completely free. You can study all 10 Management and control flashcards on this page at no cost. For spaced repetition scheduling and progress tracking, download the Oncourse app.

How do flashcards help with Bar Exam preparation?

Flashcards use active recall — instead of passively re-reading notes, you retrieve information from memory. Research shows this builds stronger, longer-lasting memories and is one of the most effective study strategies for medical exams like Bar Exam.

How many Management and control flashcards are available?

There are currently 10 flashcards for Management and control under Business Associations and Relationships, organised by chapter. New cards are added regularly to cover the latest Bar Exam syllabus.

Can I study Management and control flashcards by chapter?

Yes. The flashcards are organised by chapter so you can focus on specific areas or work through the entire topic systematically. Scroll down to the "Study by Chapter" section to pick a chapter.

What topics do these Business Associations and Relationships flashcards cover?

The cards cover high-yield concepts, clinical correlations, diagnostic criteria, treatment protocols, and commonly tested facts from Management and control. They mirror the depth and style of Bar Exam questions.

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