DE Bar Specific Law 3 — Questions and Answers
Question 1: In a Delaware appraisal proceeding under DGCL Section 262, dissenting stockholders are entitled to receive:
- The merger consideration plus a 10% premium
- Book value of their shares
- The fair value of their shares as determined by the Court of Chancery (Correct answer)
- The highest trading price in the prior 52 weeks
Correct answer: The fair value of their shares as determined by the Court of Chancery
Section 262 entitles perfected dissenters to a judicial determination of the fair value of their shares.
Question 2: Under Delaware's long-arm statute, a nonresident who commits a tortious act within Delaware is:
- Subject to personal jurisdiction in Delaware courts for claims arising from that act (Correct answer)
- Subject to jurisdiction only if served within the state
- Immune from Delaware jurisdiction unless domiciled there
- Subject to jurisdiction only in federal court
Correct answer: Subject to personal jurisdiction in Delaware courts for claims arising from that act
10 Del. C. Section 3104 confers specific jurisdiction over nonresidents who commit tortious acts in Delaware.
Question 3: Delaware applies which comparative negligence rule in tort cases?
- Pure contributory negligence barring any recovery
- Modified comparative negligence barring recovery at 50% or more
- Modified comparative negligence barring recovery if plaintiff's fault exceeds 50% (Correct answer)
- Pure comparative negligence
Correct answer: Modified comparative negligence barring recovery if plaintiff's fault exceeds 50%
Under 10 Del. C. Section 8132, a plaintiff may recover only if their negligence is not greater than the defendants' combined negligence.
Question 4: Which body handles the residuary probate administration of decedents' estates in Delaware?
- The Orphans' Court
- The Superior Court Probate Division
- The Court of Common Pleas
- The Register of Wills, subject to Court of Chancery oversight (Correct answer)
Correct answer: The Register of Wills, subject to Court of Chancery oversight
Each Delaware county's Register of Wills administers probate under the supervisory jurisdiction of the Court of Chancery.
Question 5: Under the DGCL, board action taken without a meeting requires:
- Ratification at the next annual meeting
- Approval by the board chair alone
- Written consent of a majority of directors
- Unanimous written consent of all directors (Correct answer)
Correct answer: Unanimous written consent of all directors
DGCL Section 141(f) permits board action without a meeting only by unanimous written or electronic consent.
Question 6: In Delaware, a landlord under the Residential Landlord-Tenant Code generally must return a security deposit within how many days after termination?
- 60 days
- 10 days
- 20 days (Correct answer)
- 30 days
Correct answer: 20 days
25 Del. C. Section 5514 requires return of the deposit or an itemized list of damages within 20 days.
Question 7: Delaware's rape shield and criminal statutes are codified primarily in which title of the Delaware Code?
- Title 6
- Title 25
- Title 10
- Title 11 (Correct answer)
Correct answer: Title 11
Title 11 of the Delaware Code contains the state's criminal statutes and related procedural provisions.
DE Bar Specific Law 3
In a Delaware appraisal proceeding under DGCL Section 262, dissenting stockholders are entitled to receive: