To satisfy the fiduciary duty of care,directors and officers of a corporation must discharge their duties in good faith,with the care that an ordinary prudent person in a similar position would use under similar circumstances,and in a manner they reasonably believe to be in the best interests of the corporation.

Question

Quizplus · Accepted Answer

This statement accurately describes the fiduciary duty of care that directors and officers owe to a corporation. They must act in good faith, with reasonable care and skill, and in the best interests of the company. Failure to meet this duty may result in legal liability for the directors and officers.

To Satisfy the Fiduciary Duty of Care,directors and Officers of a Corporation