Saul was elected to the board of trustees of Round Way Corp.four years ago.He makes sure everyone knows he's a board member and always brings it up at parties.Unfortunately he cares more about the prestige than doing a good job so he hasn't attended board meetings nor is he attending committee meetings to which he's been assigned.If the insiders at Round Way enter into a series of bad business deals causing financial loss to the corporation:

Question

Quizplus · Accepted Answer

Saul, as a member of the board of trustees, has a duty to attend board meetings and committee meetings to which he has been assigned. By failing to fulfill this duty and being inattentive, Saul may be considered negligent and liable for any losses incurred by the corporation due to bad business deals made by the insiders at Round Way. Therefore, Saul cannot shield himself from liability under the corporate veil or claim that he didn't vote to approve the transactions as he had a duty to attend meetings to exercise his fiduciary duties as a board member.

Saul Was Elected to the Board of Trustees of Round