COPR PAGE 103

Question 1

Doctrine of Corporate Opportunity page 103

Answer 1

The Doctrine of Corporate Opportunity limits the ability of those who owe a fiduciary duty to a corporation to take advantage of business opportunities that might otherwise be available to them in the absence of the fiduciary relationship. The Doctrine arises out of the fundamental obligation of a fiduciary not to allow a conflict of their duty with their own interests. It finds statutory basis under Section 33 of the Revised Corporation Code.

Question 2

Doc

Business Judgment Rule

Answer 2

Dictates that questions of policy and management are left to the honest decision of the officers and directors of a corporation

Unless bad faith