Question

Nora and Owen do business as Profit & Property, a real estate investment partnership. In acting on the firm’s behalf in a deal with Quaint Village Mall, Nora takes advantage of an opportunity to make a secret profit on her own behalf. To her firm, Nora is liable for​ a. breach of the duty of loyalty.​ b. ​breach of contract. c. ​breach of the duty of care. d. ​nothing.

Answer 1

a. breach of the duty of loyalty

Step-by-step explanation:

Breach of the duty of loyalty happens when a trustee acts in a way that advantages himself at the expense of the partnership or corporation.

When the trustee embezzles a business opportunity for his own gain, when clearly the opportunity belongs to the corporation.