Knox, president of Quick Corp., contracted with Tine Office Supplies, Inc., to supply Quick's stationery on customary terms and at a cost less than that charged by any other supplier. Knox later informed Quick's board of directors that Knox was a majority shareholder in Tine. Quick's contract with Tine is:

Question

Ayden Fleming

Business

3 March, 02:06

Knox, president of Quick Corp., contracted with Tine Office Supplies, Inc., to supply Quick's stationery on customary terms and at a cost less than that charged by any other supplier. Knox later informed Quick's board of directors that Knox was a majority shareholder in Tine. Quick's contract with Tine is:

+3

Answers (1)

Know the Answer?

Corey Newman · Answer 1

D.

Explanation:

Based on the scenario being described within the question it can be said that the Quick's contract with Tine is valid because the contract is fair to Quick. Therefore, the fact that Knox is a majority shareholder in Tine does not complicate the deal. If the deal was made to be more fair to Tine then this information can cause a complication, and even make the contract void.