Self dealing by a manager of a corporation:

Question

Quizplus · Accepted Answer

Self dealing by a manager of a corporation must be entirely fair to the corporation. The manager has a fiduciary duty to act in the best interest of the corporation, and any self dealing that harms the corporation is a breach of that duty. While approval by other directors may offer some protection against claims of self dealing, it does not make the transaction automatically valid or ethical. The corporate opportunity doctrine also may or may not come into play depending on the specific situation.

Self Dealing by a Manager of a Corporation