Duty of loyalty

Definition
: a duty obligating directors of a corporation to refrain from using their positions to further their own interests rather than the interests of the shareholders (as by self-dealing or fraud)

Based on Merriam-Webster's Dictionary of Law ©2001.
Merriam-Webster, Incorporated
Published under license with Merriam-Webster, Incorporated.
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collateral estoppel

estoppel by judgment barring the relitigation of issues litigated by the same parties on a different cause of action

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