Florida Bar Exam (MBE)

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Shareholders in a Florida close corporation may have a reasonable expectation of employment or management participation, and a majority shareholder who freezes out a minority shareholder may be liable for:

Breach of fiduciary duty owed to the minority Breach of the duty of care only Violation of the business judgment rule only Fraudulent transfer

Correct Answer:

Breach of fiduciary duty owed to the minority

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