Melli is the president of Iritech Inc,a grocery supplier.On behalf of Iritech,Melli has been negotiating with Teran Food Stores Ltd for two years for Teran to commit to making Iritech its exclusive supplier.Getting the contract would put Iritech's business on a much firmer financial footing.Melli has recently become frustrated with Iritech and is interested in leaving to form her own grocery supply business.The Teran contract would give her a great start and she thinks that Teran has been sufficiently impressed by her that she would have a chance to get the contract for herself.Which of the following factors would NOT support the conclusion that it would be a breach of her fiduciary duty for her to quit and seek the Teran contract for herself?
A) This is a specific opportunity that the corporation has been actively pursuing.
B) The corporation had done extensive work preparing for the opportunity.
C) This is a significant opportunity for the corporation.
D) Melli had access to the opportunity because of her position with the corporation.
E) The contract is profitable,and if Tritech can restrict Melli from obtaining the contract,this is an impermissible restraint of trade.
Correct Answer:
Verified
Q2: Nigel is negotiating to sell some lighting
Q3: Shareholders in a corporation incorporated under the
Q4: The fiduciary duty of a director to
Q5: Angela and Lou are starting a flower
Q6: Sarah is a director of Family Educational
Q8: Sandy is a director of Plex Manufacturing
Q10: Aldus is an officer of Accent Interior
Q12: Which of the following statements is TRUE?
Q15: In practice, it is generally easier for
Q17: Which of the following statements best describes
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