Under common law, directors must not place themselves in a position where there is an actual or substantial possibility of a conflict of interest between their personal interest and their duty to act in the interests of the company without notifying the company.Which of the following phrases is not a description of what a 'conflict of interest' is?

Question

Quizplus · Accepted Answer

Serving two masters, self-dealing, and related party transactions are all common examples of conflicts of interest. However, insolvent personal dealing is not necessarily a conflict of interest, as it refers to a director or officer dealing with their own personal bankruptcy, which may not necessarily involve the company's interests.

Under Common Law, Directors Must Not Place Themselves in a Position