Liabilities and Responsibilities

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1. Which conduct is expressly a basis of director liability under Section 30?
2. What liability does Section 30 prescribe for directors or trustees within its first paragraph?
3. What must a fiduciary account for when Section 30's adverse-interest rule applies?
4. A director knowingly votes to implement a patently unlawful corporate scheme. The act causes established damage to the …
5. A director secretly acquires a financial interest conflicting with her fiduciary duty, and this causes proven loss to t…
6. A board receives a carefully documented assessment and chooses a lawful expansion. Demand unexpectedly collapses. The o…
7. A corporation confidentially entrusts an officer with acquiring a specified asset for its business. The officer uses th…
8. Explain why Section 30 does not make every director a guarantor of every corporate obligation.
9. Distinguish the damages rule in Section 30's first paragraph from its adverse-interest accounting rule.
10. A director says that approval by fellow directors always excuses knowingly approving an unlawful corporate act. Assess.
11. Does Section 30’s first paragraph expressly include gross negligence as a ground separate from bad faith?
12. Which injured groups are expressly named in Section 30’s first-paragraph damages rule?