Ontario Barrister and Solicitor Practice Exam

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What duty does a director owe to the corporation?

  1. Fiscal responsibility

  2. Duty of care and fiduciary duty

  3. Environmental duty

  4. Operational duty

The correct answer is: Duty of care and fiduciary duty

A) Fiscal responsibility is incorrect because although directors do have a responsibility to manage the company's finances, this does not encompass their entire duty to the corporation. C) Environmental duty is incorrect because while it is important for corporations to be environmentally responsible, it is not the main duty of a director. D) Operational duty is incorrect because this is typically the responsibility of the CEO or other top-level executives, not the director.

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