1. In Canada, directors owe two legal duties under corporate legislation. Describe these two legal duties and to whom they are owed.

2. There are two different types of contracts which a director nominee may wish to ask questions about as they may offer protection to a director. Briefly describe them (hint:both begin with the letter "i").

3.Do thedutiesowed by directors or the potential liability they face impact your interest in directorships? Explain your point of view.

Provide areferencefor the source of your information for questions 1 and 2.