Practice question
A director earns money from a private activity. A complaint invokes section 33 solely because she is a director, but establishes neither an opportunity acquired by virtue of office nor one that should belong to the corporation, and no corporate prejudice. Which is best?
- Every director’s private profit automatically belongs to the corporation
- The required section 33 predicates must be established; directorship and private profit alone are insufficient
- All private business by directors is criminal
- The corporation automatically owns her salary from every source
- No director can ever owe a loyalty duty
Legal references
- https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/86463 — RA 11232, sections 30 and 33
Answer this question in flashcards to review your response and continue practicing.