The Fiduciary Duty of a Director to Act in the Best

question 58

True/False

The fiduciary duty of a director to act in the best interests of the corporation means that a director may never do business with the corporation.If directors were to negotiate transactions between themselves and the corporation, there would be in an intolerable conflict between their personal interests and their obligation to act in the best interests of the corporation.That is why such transactions are never permitted.

---

Definitions:

Customize

To modify or build something according to individual or personal specifications or preference.

Custom-Write

Custom-write refers to the process of creating content, code, or software specifically tailored to meet unique needs or requirements.

Prewritten Application

A software application that is developed and available for use without the need for custom coding or development.

SDLC

Software Development Life Cycle, a process for planning, creating, testing, and deploying an information system.