Legal Question in Business Law in Florida
Duty of Loyalty
A company's officer exercises a breach of his Duty of Loyalty when found
to be self dealing. Full Disclosure of the alleged improper deal was
requested by the board and no Disclosure was given. Is this considered a
Fraud upon the company.
Asked on 2/04/04, 11:06 am
1 Answer from Attorneys
Beth Clause
Beth L. Clause, PLLC -
Re: Duty of Loyalty
It depends on what the officer of the corporation did that was disloyal. Did his disloyalty cause any damage to the corporation? Is he still an officer?
Answered on 2/04/04, 5:13 pm
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