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In Peoples Department Stores Inc

Question 48

Multiple Choice

In Peoples Department Stores Inc. et al. v. Wise et al., the Supreme Court of Canada had to clarify to whom a director owes its duties. What did the Court hold?

A) A fiduciary duty is owed to the company and to other stakeholders.
B) A duty of care is owed only to creditors, while a fiduciary duty can also be owed to other stakeholders.
C) A fiduciary duty is owed only to the company, while a duty of care can also be owed to other stakeholders.
D) A duty of care is owed only to the company, while a fiduciary duty can also be owed to other stakeholders.
E) A fiduciary duty is owed only to creditors, while a duty of care can also be owed to other stakeholders.

Correct Answer: