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Question
Saul was elected to the board of trustees of Round Way Corp. four years ago. He makes sure everyone knows he's a board member and always brings it up at parties. Unfortunately he cares more about the prestige than doing a good job so he hasn't attended board meetings nor is he attending committee meetings to which he's been assigned. If the insiders at Round Way enter into a series of bad business deals causing financial loss to the corporation:A.Saul is shielded from liability under the corporate veil.
B.Saul cannot be held responsible because he didn't vote to approve the transactions.
C.Saul will be liable because his inattention will likely be considered negligence on his part.
D.Saul will be held liable because by accepting the board position he has opened himself up to liability for the actions of the corporation.
Answer
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