(DOWNLOAD) "Fred Diedrick and Others v. John W. Helm" by Supreme Court of Minnesota * eBook PDF Kindle ePub Free
eBook details
- Title: Fred Diedrick and Others v. John W. Helm
- Author : Supreme Court of Minnesota
- Release Date : January 02, 1944
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 64 KB
Description
Corporation -- appropriation of business opportunity -- rights of corporation and of officers or directors. 1. Where a business opportunity is in the line of a corporation's activities, especially if intended for it, the opportunity, as one in which it has a legitimate interest or expectancy, belongs to the corporation and not to its officers or directors, and if an officer or director diverts the opportunity and embraces it as his own, he is chargeable as a constructive trustee for the benefit of the corporation with all the profits and benefits received therefrom by him; but, where the opportunity is one in which the corporation has no interest or expectancy, the opportunity is not a corporate, but a personal, one, and belongs to the director, with the right to treat it as his own.