The Officers and the Directors Are Fiduciaries of the Corporation

question 91

True/False

The officers and the directors are fiduciaries of the corporation, but the business judgment rule may preclude liability on officers and directors for honest mistakes of judgment.

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Definitions:

Automatically Processed

Information or tasks that are performed with little or no conscious effort, often due to repetition or familiarity.

Identification

The psychological process in which an individual assimilates an aspect, property, or attribute of another and is transformed, wholly or partially, by the model the other provides.

Automatically Processed

Information processed without conscious awareness, often quickly and efficiently.

Retracing Steps

A method of attempting to remember or find something by thinking or going back over the path or actions taken.