In order to comply with a director's duty of loyalty to a corporation, what action(s) should a director take when presented with a corporate opportunity?
　　a.Accept the opportunity and not offer it to the corporation.
　　b.Reject the opportunity and not offer it to the corporation.
　　c.Accept the opportunity and disclose the acceptance to the corporation.
　　d.Offer the opportunity to the corporation and accept it if the corporation rejects it.
　　Answer:D
　　Choice "D" is correct. The business law concept of "duty of loyalty" is a common ethical standard. The director's duty of loyalty requires that the director offer opportunities presented in the market place first to the corporation and only accept them if the corporation rejects it. A land developer might sit on the board of a land development company. If presented with the opportunity to purchase a building or land at a significant discount, the developer would be obligated to offer the opportunity to the corporation first but would not be barred from taking advantage of the opportunity if the corporation had no interest.
　　Choice "b" is incorrect. The duty of loyalty does not require that a director ignore an opportunity by personally rejecting it and not offering it to the corporation.
　　Choice "a" is incorrect. A director's duty of loyalty requires both disclosure and offering the opportunity to the director's corporation before accepting the opportunity.
　　Choice "c" is incorrect. A director's duty of loyalty requires both disclosure and offering the opportunity to the director's corporation before accepting the opportunity.