Directors share a ______, which means all their decisions should be in the best interests of the corporation and its stakeholders.

Question

Quizplus · Accepted Answer

The duty of loyalty is a fundamental duty of directors, which requires them to act in good faith and in the best interests of the corporation and its stakeholders. This duty includes avoiding conflicts of interest, not taking advantage of corporate opportunities, and maintaining the confidentiality of corporate information. The other options listed (duty of oversight, duty to audit, duty of control, and duty of cooperation) are also important duties of directors, but they do not encompass the primary responsibility of acting in the best interests of the corporation and its stakeholders.

Directors Share a ______, Which Means All Their Decisions Should