DE Bar Practice Questions - Delaware Bar Examination Exam

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A Delaware corporation's certificate of incorporation contains a provision under DGCL § 102(b)(7) eliminating personal liability of directors for monetary damages. In which of the following situations would this exculpation provision NOT protect a director?

A breach of the duty of care resulting in an uninformed business decision A breach of the duty of loyalty involving a self-dealing transaction A good-faith decision that resulted in significant financial losses A decision made without obtaining an independent fairness opinion

Correct Answer:

A breach of the duty of loyalty involving a self-dealing transaction

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