Bob and Rob Each Own 50 of the 100,000 Issued

question 82

Multiple Choice

Bob and Rob each own 50 of the 100,000 issued and outstanding shares of Synapsegap Corporation.If Bob develops a product and starts a company that competes with the Synapsegap product,he:

• A) has violated the duty of loyalty to Synapsegap by competing with Synapsegap
• B) has violated the duty of loyalty to Synapsegap by self-dealing in a similar product
• C) has not violated any duty,but must sell his shares of stock in Synapsegap
• D) has not violated any duty so long as he has notified Synapsegap of his actions
• E) has not violated any duty,and need not give notice nor sell his stock

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