Jameson works for Fishy-Mart Corporation, a chain of superstores that sells large quantities of seafood. His job is to locate future sites for Fishy-Mart stores. Jameson finds a piece of real estate near a coastline that would make a great site for a Fishy-Mart store. He asks his friend to purchase the property from its current owner and has a secret agreement with his friend to split the profits when he sells the property to Fishy-Mart. Jameson, without disclosing his interest in the property, recommends the site to Fishy-Mart, which then purchases the property from Jameson's friend. The friend splits the profits with Jameson. What breach of the duty of loyalty has Jameson committed?
A. usurping a corporate opportunity
B. self-dealing
C. competing with the corporation
D. proxy
Answer: B
You might also like to view...
Choose the correct word or words in parentheses. Have you filed your income (taxs, taxes) yet?
During his presentation Michael said, Let me now review the two possible solutions we've discussed so far. He has used a verbal signpost to help his audience recognize the organization of and key points in his presentation
Indicate whether the statement is true or false
The coinsurance provision in the homeowners' policy generally
A) prohibits homeowners from having more than one policy in effect at a given time. B) sets limits on the amount one insurance company will pay when there is more than one policy in effect. C) indicates the dollar deductible on each damage claim. D) requires the homeowner to pay part of the replacement cost when the dwelling unit is insured for less than 80% of its replacement value.
The corporate charter is a document filed with the secretary of the state in which a firm is incorporated that provides information about the corporation, including its name, address, directors, and amount of capital stock.
Answer the following statement true (T) or false (F)