Lewis Is a Director of Mines & Refineries,Inc

question 18

Multiple Choice

Lewis is a director of Mines & Refineries,Inc. Using information that is not available to the public,Lewis makes a profit trading in Mines & Refineries securities. Lewis is most likely liable for breach of

• A)none of the choices.
• B)the business judgment rule.
• C)the duty of loyalty.
• D)the duty of care.

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Definitions:

Industry

A sector of the economy that is made up of manufacturing, production, or provision of services within a specific domain of activity or expertise.

Marginal Revenue

The supplementary income received from the sale of an additional unit of a product or service.

Price

The money value projected, needed, or surrendered in purchase of something.