In Peoples Department Stores V

question 29

Multiple Choice

In Peoples Department Stores v.Wise (2004) ,244 DLR (4th) 564 (S.C.C.) ,the court noted that it may be legitimate for directors to consider inter alia the interests of shareholders,employees,suppliers,creditors,consumers,governments,and the environment.How does this ruling affect the fiduciary duty owed by directors to act in the best interests of the corporation?

• A) It complicates matters,because directors are now bound to consider these outside interests.
• B) It is inconsequential,because directors are not bound to consider those interests.
• C) Duties to the corporations are confounded by duties of corporate social responsibility.
• D) It is inconsequential,because the duty owed to the corporation is relieved by social responsibility.