The duty of care is tempered by the _______, which provides protection for officers and directors when they made a decision in good faith that resulted in some corporate loss.

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24-08-2022
Business

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The duty of care is tempered by the _______, which provides protection for officers and directors when they made a decision in good faith that resulted in some corporate loss.

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choprayogita110 choprayogita110 · Answer 1 · 2022-08-31T07:59:06+02:00

The duty of care is tempered by the business judgement rule, which provides protection for officers and directors when they made a decision in good faith that resulted in some corporate loss.

A tenet in corporate law known as the "business judgement rule" states that courts should give corporate leaders' business judgement the benefit of the doubt.

The business judgement rule is a presumption that when a corporation's directors make a business decision, they did so with knowledge, in good faith, and with a genuine belief that what they were doing was in the company's best interests.

Learn more about business judgement rule here

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