1. Directors of a Corporation owe three primary duties to that Corporation.List each of these duties.Also, under each of these duties, briefly explain how a Director can protect himself/herself to ensure that he/she does not become responsible, personally, for a breach of that particular duty.

1. Bob Cratchitt and Ebeneezer Scrooge are partners with one another.Bob Cratchitt has invested 25% in the partnership while Scrooge has invested 75% in the partnership.Cratchitt has little or no assets while Scrooge has a personal net worth in the millions.Cratchitt, who is primary managing partner, in the course of the partnership, makes some terrible business decisions.After a period of time, the partnership becomes insolvent.It owes its creditors approximately $100,000.00.The creditors are looking to recover this amount.Scrooge comes to you looking for advice.Explain his obligations to his creditors.Also, explain any rights he may have with respect to Cratchitt.