Asked by Claudia Piercy on Jun 26, 2024
Verified
Directors and officers have a fiduciary duty of care.
Fiduciary Duty of Care
A legal obligation of one party to act in the best interest of another when entrusted with the care of their assets or interests.
- Comprehend the obligations of fidelity and diligence that directors and officers have towards the corporation and its stakeholders.
Verified Answer
HS
Hritik SachdevaJun 29, 2024
Final Answer :
True
Explanation :
Directors and officers of a corporation have a fiduciary duty of care to act in the best interest of the corporation and its shareholders, making decisions with due diligence and informed judgment.
Learning Objectives
- Comprehend the obligations of fidelity and diligence that directors and officers have towards the corporation and its stakeholders.