Cengage Advantage Books: Foundations of the Legal Environment of Business 2nd Edition by Marianne Jennings, Albert Napier, Marianne Jennings

Exercise 1

W. Ham Jr. served on the board of directors for Golden Nugget, Inc., a Nevada corporation. In 1969, while Mr. Ham was a director and legal counsel for Golden Nugget, he obtained a leasehold interest with an option to purchase in the California Club. The California Club is at 101 Fremont Street, Las Vegas, Nevada, and is located next to a series of properties on which Golden Nugget operates its casinos. Mr. Ham leased the property from his former wife. Golden Nugget was looking for property to expand and had, in fact, been expanding onto other lots in the area. Was there a breach of a corporate opportunity? What if Mr. Ham offers to lease the property to Golden Nugget? [ Ham v Golden Nugget, Inc., 589 P.2d 173 (Nev. 1979)]