1.16 Fiduciary Duty of Directors

The umbrella's anatomy (the exam's synthesis): the director as fiduciary — the trust's person: the loyalty (the company's interest first — the conflict's bar), the good faith (the honesty's core), the care-and-skill (1.10's competence), the within-powers (1.12), the no-profit (1.17), the confidentiality (the information's trust), and the accountability (the records'-and-disclosure's duty); the fiduciary's remedies (the rescission, the disgorgement, the compensation, the removal — and the company's ratification's limits (the fraud-on-the-minority's bar — Unit 4's exceptions)).