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Ashorn Ashorn
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7 years ago
Use the fact situation in Q1 to answer the related question that follows.
Assume that at the time A, B, and C were making their decision, C also had an interest in Gladstone Inc., which he did not disclose to A and B, but that C chose not to take part in the vote. Also assume that when Multi Corp went bankrupt, a receiver was appointed, who sued A, B, and C on behalf of the company. In this case, the receiver will
a. succeed against A and B, regardless of whether they were diligent and used the established degree of care.
b. not succeed against A, B, and C because when A and B voted, they were diligent and used the established degree of care.
c. not succeed against A, B, and C because there was no breach of fiduciary duty to Multi Corp Ltd.
d. succeed against C for failure to disclose his interest in Gladstone Inc.
e. succeed against A, B, and C because directors are jointly and severally liable.
Textbook 
The Law and Business Administration in Canada

The Law and Business Administration in Canada


Edition: 14th
Authors:
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Existence87Existence87
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7 years ago
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Ashorn Author
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7 years ago
This helped my grade so much Perfect
Ifekwunigwe
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Yesterday
Smart ... Thanks!
MAry1395
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2 hours ago
Brilliant ツ
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