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Source Fiduciary Duties Fiduciary Duties Matched to this deck.

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Before approving a financing plan, directors rely on a report from the corporation's CFO and advice from outside counsel. The directors have no reason to doubt either source.
Which statement best describes reasonable reliance?

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Directors may reasonably rely on officers, employees, counsel, accountants, or experts if the reliance is in good faith and the directors are not aware of facts making reliance unwarranted. Directors may rely on a report even if they know it omits the central risk being discussed. Directors may rely on expert advice only if the expert guarantees the corporation will profit. Directors are liable whenever they rely on any report instead of personally verifying every invoice.

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