Which of the Following Is an Example of a Breach

question 30

Multiple Choice

Which of the following is an example of a breach of a fiduciary duty?

• A)A partner in a firm learned of a business forced to sell some heavy equipment.Although the partnership could have used the equipment,he bought and sold it at a substantial profit before the partnership was given a chance to buy it.
• B)A shareholder of ABC Ltd.,a trucking corporation whose shares are listed on the Vancouver Stock Exchange,is working as an employee for ABC Ltd.'s competitor,Jonstone Trucking.
• C)A shareholder of a corporation voted in favour of an acquisition by the corporation at the annual general meeting because he secretly had an interest in the corporation being purchased.
• D)The directors of the corporation,contrary to a request made by the shareholders,refused to declare dividends.
• E)A promoter of a corporation sold property to the corporation for four times what he had paid for it after he made full disclosure of his interest to an independent board of directors,which voted for the purchase.

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Definitions:

Mindfulness

A mental state achieved by focusing one's awareness on the present moment, while calmly acknowledging and accepting one's feelings, thoughts, and bodily sensations.

Self-Regulation of Attention

The ability to control one's focus of attention, managing distractions and focusing on relevant stimuli or tasks.

Nonjudgmental Awareness

An approach or practice of being mindful and observant without making judgments or evaluations.

Sensation-Seeking

The desire to participate in highly arousing activities; it is especially common in early and mid-adolescence.