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Because of their positions within the corporation, directors must make full disclosure of any conflicts of interest with respect to corporate contracts.
Conflicts Of Interest
Situations in which a person's personal interests could potentially interfere with their professional obligations or duties.
Corporate Contracts
Agreements entered into by a corporation with other entities or individuals, covering aspects such as sales, services, and leases.
Full Disclosure
The requirement or practice of disclosing all relevant and significant information to a transaction's parties, often used in financial and legal contexts.
- Master the concept of the ethical and legal responsibilities that rest on the shoulders of corporate directors and officers, particularly concerning fiduciary duties and exposure to liability.
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Learning Objectives
- Master the concept of the ethical and legal responsibilities that rest on the shoulders of corporate directors and officers, particularly concerning fiduciary duties and exposure to liability.
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