Question

Lewis is a director of Mines & Refineries, Inc. Using information that is not available to the public, Lewis makes a profit trading in Mines & Refineries stock. Lewis is most likely liable for breach of:______a. no duty or ruleb. the business judgment rule.c. the duty of loyalty.d. the duty of care.

Answer 1

The correct answer is letter C.

Explanation: The duty of loyalty is the principle that the directors and officers of a corporation has in making all decisions.