A Director Who Fails to Act in the Best Interests

question 16

True/False

A director who fails to act in the best interests of a company is liable in damages to the shareholders.

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Definitions:

Half-Freedom

A term referring to a status granted to some slaves in the New Netherlands (now New York) area in the 17th century, allowing them limited freedoms under certain conditions but not full independence.

Manumitted

The act of a slave owner freeing their slaves.

New Netherland

A 17th-century colonial province of the Seven United Netherlands that was located on the East Coast of North America.

Bacon's Rebellion

An armed rebellion held in 1676 by Virginia settlers led by Nathaniel Bacon against the rule of Governor William Berkeley, partly due to discontent with how Native American relations were handled.