1. What two main duties do directors owe to the corporation? (2 marks for a full description of each of the 2 duties)

2. If you are a corporate director and have a conflict of interest regarding a board decision, what two things should you do? (1 mark for each requirement)

3. Describe the business judgment rule of corporate governance in Canada and in Ontario (1 mark). Explain the importance of this business judgment rule(1 mark).