1. What are the arguments that the transactions between Sinclair and Levien should be subjected to judicial scrutiny and upheld only if Sinclair shows them to have been entirely fair and entered in good faith?
2. What are the arguments that the transactions between Sinclair and Levien should be subjected to the business judgment rule and overturned only if Levien shows that Sinclair had not acted with due care, in good faith, and in a manner reasonably believed to be in the best interests of Levien?
3. Explain which standard should apply and why.