‘The director of a company owes a fiduciary duty to the company’. Do you agree with this statement? Introduction A company is a distinct legal entity created by statute. Companies have many of the same legal rights and obligations as do individuals. They can own and sell property‚ they can hold profits or acquire debts‚ they can enter into contracts and sue or be sued‚ and governments can tax them. Companies are advantageous primarily because they become legal entities that are separate and
Premium Fiduciary Board of directors Stock
responsibilities What are rights and responsibilities? Our rights are what every human being deserves‚ no matter who they are or where they live‚ so that we can live in a world that is fair and just. A responsibility is something that you must do. It is something that affects our lives and other people’s lives. What are my rights? 1. You have the right to feel safe: No one has the right to make fun of you or hurt you in any way‚ even if you do something wrong. You have the right to have someone
Premium Human rights Universal Declaration of Human Rights
Duty of care is the legal obligation that reasonable care must be taken to avoid acts with a reasonably foreseeable outcome of injuring another person. The concept of ‘duty of care’ was first recognised in Donoghue v Stevenson [1932] AC 562 where it was established that a duty of care is created via proximity‚ or a relationship between the defendant and the plaintiff. This is known as the ‘neighbour principle’ ‚ which relies on combination of proximity and a reasonably foreseeable risk of harm
Premium Law Tort Negligence
and answering the call of the time to come. Duties of students: This leads us to the consideration of the duties which the students should discharge in order to become good citizens of tomorrow. When we talk of duties‚ the terms ‘rights’ naturally occurs to us. The students of today‚ unfortunately‚ are conscious of only their rights. It is good that they should have a consciousness of these too‚ for they are the basic conditions of freedom. But‚ what is more important to understand is the fact that
Premium Sociology Consciousness
The Law of Directors Duties The law of Directors Duties stems from the systems of corporate governance in order to ensure that the persons occupying higher positions within the company will take good care of the company‚ as well as not act in a way that will create deficiency. There are 3 sources to the legal duties: the common law; the principles of equitable fiduciary duties; and the statutory duties stated under the Corporation Act section 180-183(Harris‚J.‚ 2008). The penalties of breach
Premium Board of directors
1.1 A duty of care means that all health and social care professionals must act in the best interest of the people that they care for. They must also do everything in their power to keep clients safe from harm and exploitation. As a care worker you must not do‚ or fail to do something that can cause harm to someone. You only have the duty as a care professional to act within your own competence and not to take tasks on that you’re not confident to complete. 2.1 When working with clients‚ the
Premium Law Core issues in ethics Negligence
for implementing duty of care in health and social care Ai‚ What does the term “duty of care” mean? The term “duty of care” means to safeguard anybody from harm and to make sure they are not disadvantaged or treated unfairly whilst they are in my care‚ to always act in the best interests of individual’s and others such as my co-workers‚ my employer as well as myself. This is a legal obligation. Aii‚ How the duty of care affects the work of a social care worker Duty of care affects the
Premium Law Plaintiff Pleading
trough is the most interesting part that reminds me of a scenario in China. Chinese people have superstitious belief in twelve Chinese zodiac signs (a twelve-year cycle represented by twelve different animals)‚ that is‚ the birth year is an important factor for a baby. The baby born in “dragon year” is supposed to have more fortune and intelligence. Therefore‚ every dragon year in every 12-year cycle will have a demographic peak. The hospitals and schools would be crowded in these years. And those
Premium Superstition Takeover Luck
Traditionally the law of torts in Australia and many other common law countries (e.g. England‚ Canada) have been reluctant to impose upon bystanders a general duty to aid the proverbial baby drowning in a puddle of water‚ ’ though there have been several exceptions to the general rule which the courts have distinguished‚ usually where some sort of prior relationship exists between the parties. Protagonists of a duty to rescue ’ tend to base their arguments around the idea that contemporary morality demands
Premium Common law Tort Morality
THE DUTIES OF THE AGENTS TO PRINCIPAL The duties of an agent depend primarily on the contract of agency if there is one. Subject to any such express terms‚ the agent owes a number of implied duties or obligations to his principal. It is the agency relationship as such that gives rise to these obligations so that‚ as a general rule‚ they fall as much on the gratuitous agent as on the paid agent. 1. Obey the Principal’s instructions Section 164 states‚ The agent must obey the instructions given to
Premium Contract