Promoters have a fiduciary relationship with the corporation.

Name: Promoters have a fiduciary relationship with the corporation.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Promoters, who are involved in the formation of a corporation, have a fiduciary relationship with the corporation and its prospective shareholders, meaning they must act in the best interest of the corporation and its future shareholders, avoiding conflicts of interest and disclosing any personal gain from transactions on behalf of the corporation.

Promoters Have a Fiduciary Relationship with the Corporation