Disloyalty

This topic has no further subtopics. Explore its practice questions below.

1. Under section 33, to whom must a disloyal director ordinarily account for and refund profits from a diverted corporate …
2. What stockholder vote may ratify the act under section 33’s express exception?
3. Does risking personal funds alone exempt the director from section 33?
4. By virtue of office, a director learns of a business opportunity stipulated to belong to the corporation. He takes it p…
5. A director argues that approval by a bare majority of the board necessarily satisfies section 33’s ratification excepti…
6. A director uses confidential corporate negotiations to secure personally a concession that should belong to the corpora…
7. A director earns money from a private activity. A complaint invokes section 33 solely because she is a director, but es…
8. State section 33’s corporate-opportunity rule and its ratification exception.
9. Explain why a director’s use of personal money does not by itself answer a corporate-opportunity claim.
10. A director secretly appropriates a corporate opportunity and obtains profits. The board later approves the conduct by s…
11. Which fiduciaries are expressly covered by Section 30’s second paragraph on adverse interests in confidentially entrust…
12. When Section 30’s adverse-interest rule applies, in what capacity is the disloyal fiduciary liable for the corporation?