The President of a corporation is involved in a transaction where there is a conflict of interest that she did not disclose to the corporation. A shareholder challenges the transaction.

Which of the following statements is correct with respect to these facts?

The business judgment rule does not apply to this situation.

The corporation cannot void the transaction if the President shows that the transaction was fair to the corporation.

All answers are correct.

A finding that the transaction is fair may still require the President to give back her profits.

Answer rating: 100% (QA)

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