Nora and Owen do business as Profit & Property, a real estate investment partnership. In acting on the firm's behalf in a deal with Quaint Village Mall, Nora takes advantage of an opportunity to make a secret profit on her own behalf. To her firm, Nora is liable for?

Question

Mathematics

Damaris Nash

1 June, 19:19

Nora and Owen do business as Profit & Property, a real estate investment partnership. In acting on the firm's behalf in a deal with Quaint Village Mall, Nora takes advantage of an opportunity to make a secret profit on her own behalf. To her firm, Nora is liable for?

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Maggie Cobb · Answer 1

breach of the duty of loyalty

Step-by-step explanation:

The deal with Quaint Village Mall was not for her personally but for her firm so for her to make a secret profit and take advantage of such an opportunity is a breach of the duty of loyalty which she is liable of.

If an employee makes a decision for the corporation that profits both him and the corporation. The duty of loyalty is breached when the employee, his or her interest in front of that of the corporation.