The plaintiffs sued the president, vice president, and corporation secretary that built them new houses. They alleged that due to faulty planning, their homes were built in an area that was often flooded by the drainage of the other areas of the development. Do the officers have personal liability? Why or why not?

1. A corporation's board authorized a director, Wilson, to negotiate the purchase of some land. Instead, Wilson secretly bought the land himself and sold it to the corporation at a profit. After learning of the deceit, the corporation failed to act. Do the minority shareholders have any remedy? Explain.