Guth v. Loft, Inc.
Citation
5 A.2d 503 (Del. 1939)
Facts
Stub — to be completed.
Issue
Stub — to be completed.
Holding
Stub — to be completed.
Rule
A corporate officer or director may not take for himself a business opportunity that belongs to the corporation — one that the corporation is financially able to undertake, that is in its line of business, and in which it has an interest or reasonable expectancy.
Significance
Leading Delaware case establishing the corporate opportunity doctrine and the duty of loyalty for fiduciaries.