Vermont Bar Exam (UBE — MBE Component)

The business judgment rule protects directors who make decisions that:

Result in profit for the corporation Were made in good faith, with due care, and in the honest belief the action was in the corporation's best interest Were approved by a majority of shareholders Were made only after consulting independent legal counsel

Correct Answer:

Were made in good faith, with due care, and in the honest belief the action was in the corporation's best interest

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