Knox, president of Quick Corp., contracted with Tine Office Supplies, Inc., to supply Quick's stationery on customary terms and at a cost less than that charged by any other supplier. Knox later informed Quick's board of directors that Knox was a majority shareholder in Tine. Quick's contract with Tine is
A. Void because of Knox's self-dealing.
B. Void because the disclosure was made after execution of the contract.
C. Valid because of Knox's full disclosure.
D. Valid because the contract is fair to Quick.
Answer: D. Valid because the contract is fair to Quick.
Business
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