In Peoples Department Stores v.Wise (2004) ,244 DLR (4th) 564 (S.C.C.) ,the court noted that it may be legitimate for directors to consider inter alia the interests of shareholders,employees,suppliers,creditors,consumers,governments,and the environment.How does this ruling affect the fiduciary duty owed by directors to act in the best interests of the corporation?
A) It complicates matters,because directors are now bound to consider these outside interests.
B) It is inconsequential,because directors are not bound to consider those interests.
C) Duties to the corporations are confounded by duties of corporate social responsibility.
D) It is inconsequential,because the duty owed to the corporation is relieved by social responsibility.
Correct Answer:
Verified
Q35: What must be used in order to
Q36: Three directors of a courier business who
Q37: A dispute has arisen among the various
Q38: Of the 1000 issued and outstanding common
Q39: Why is it important that the Supreme
Q41: What is the most important factor that
Q42: A director does not generally attract liability
Q43: SunDials4U Inc.will bear vicarious liability for the
Q44: What is the most important factor contributing
Q45: A corporation's preferred shares generally carry the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents