Smith,a director of Alfa Industries,discovered a business opportunity mentioned in a foreign magazine that would work well for Alfa in Canada.Rather than bring it up at the next directors' meeting,Mr.Smith takes advantage of it himself.He is in breach of his fiduciary duty to Alfa.

Question

Quizplus · Accepted Answer

As a director, Mr. Smith has a fiduciary duty to act in the best interests of Alfa Industries. By taking advantage of the business opportunity for his own personal gain without bringing it up with the other directors, he is breaching this duty.

Smith,a Director of Alfa Industries,discovered a Business Opportunity Mentioned in a Foreign