A manager used her position in the company to develop a new business the company might have pursued on its own. This is a breach of the
a. duty of care.
b. duty of non-competition.
c. duty of loyalty.
d. duty of recognition.
c
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Which of the following would be a justification for involuntary dissolution of a corporation by a creditor?
A. When there is misapplication or waste of corporate assets B. When directors are acting illegally or unfairly C. When directors are in conflict, deadlock cannot be broken by shareholders, and the corporation faces ruin D. When corporation is insolvent and not paying its debts
Accounting does not normally recognize mutually unexecuted contracts as assets or liabilities
Indicate whether the statement is true or false
A petty cash fund is used to pay relatively large amounts
Indicate whether the statement is true or false
Securities offerings in unlimited amounts can be exempt from the registration requirements in certain circumstances
Indicate whether the statement is true or false