Toby was elected to the board of trustees of the Chi-Town Corporation (CTC)four years ago.He loves to brag about his position as a board member,but he cares more about the prestige than doing a good job.As a member of the board at CTC,Toby serves on several committees.However,although the board and all of the committees meet on a regular basis,Toby has never attended any of these meetings and doesn't participate in any board decisions.If the insiders at CTC enter into a series of bad business deals that cause CTC to suffer a financial loss,what is Toby's potential liability?

Question

Quizplus · Accepted Answer

A) Toby's failure to attend meetings or otherwise perform his duties as a board member will likely be construed as a breach of his fiduciary duty of care, making him personally liable.
\) Toby's failure to attend meetings or otherwise perform his duties as a board member will likely be construed as a breach of his fiduciary duty of care, making him personally liable.
]) Toby's failure to attend meetings or otherwise perform his duties as a board member will likely be construed as a breach of his fiduciary duty of care, making him personally liable.
^) Toby's failure to attend meetings or otherwise perform his duties as a board member will likely be construed as a breach of his fiduciary duty of care, making him personally liable.

Toby Was Elected to the Board of Trustees of the Chi-Town