Hobart, an officer with Investment Assets Corporation, misappropriates the firm's property through fraud. Later, Hobartand the corporation agree to a mutual release of claims. Still later, Investment Assets discovers Hobart'sfraud and files a suit to recover the misappropriated property. Most likely, the court will rule that Hobart
a. breachedhis duty of loyalty by failing to disclose his misconduct.
b. is not liable due to hisduty to act in his own self-interest.
c. is not liable due to the firm's failure to timely discover the fraud.
d. is not liable due to the mutual release of claims.
A
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