Jameson works for Fishy-Mart Corporation, a chain of superstores that sell large quantities of seafood.Jameson's 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.Jameson tells his friend to purchase the property from its current owner, which he does.Jameson 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 here?

Question

Quizplus · Accepted Answer

Jameson has breached the duty of loyalty by self-dealing. He used his position as an employee of Fishy-Mart to benefit himself financially by secretly entering into an agreement with his friend to split the profits from the sale of the property. Jameson failed to disclose his personal interest in the property to Fishy-Mart, which ultimately purchased it from Jameson's friend, and thus violated his duty of loyalty to the corporation.

Jameson Works for Fishy-Mart Corporation, a Chain of Superstores That