Fiduciary Duties of Directors 1) Duty to act in good faith in the interests of the company In Re W & M Roith Ltd [1967] 1 All ER 427‚ the controlling director of a company had given many years services without having a service contract. He was then given a service agreement providing for payment of a pension to his widow if he died while still a director. He was already in poor health at this time and he died two months later. The pension was paid for several years and then the company went into
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DUTY OF CARE Duty of Care The legal definition for the term ‘Duty of Care’ means that person acts towards others and the public with watchfulness‚ attention‚ caution and prudence that a reasonable person in the same circumstances would. If a person’s actions do not meet this standard of care then their acts are considered negligent and any damages resulting may be claimed in a lawsuit for negligence. ‘Duty of Care’ means that whilst we are responsible for another persons wellbeing we must
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discussed. The first issue is what have Don breached his directors’ duties under the act in good faith and best interest of the company as well as disclosure personal interest. The second issue is possible remedies for Bryan while he has been conducted unfair and oppressive. ISSUE 1: WHAT HAS DON BREACHED? Fiduciary duties to disclose personal interests Directors are under both fiduciary and statutory duties to avoid conflicts between their personal interests and the interests of the company. The
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Statutory duties Main statutory duties of a director are provided by s.132 • Where a director breaches common law duties‚ these statutory provisions impose criminal liabilities. • S.132(1) is a general provision that requires directors to act ‘honestly’ at all times and use reasonable diligence in the exercise of their powers. Any breach of fiduciary duty • Duty imposed on directors to avoid conflict of interest by not using confidential information they obtain by virtue of their position
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Epics The Aeneid and Metamorphoses: A Comparison Both Vergil and Ovid imbedded underlying meanings in their epics The Aeneid and Metamorphoses. In this paper I will focus on the underlying meaning in the Underworld scene in Vergil’s The Aeneid (lines 356 through 1199). I will also focus on three scenes in Ovid’s Metamorphoses. Both epics contain a larger message about the importance of the Roman past for its present and future under Augustus. The story of Aeneas in the Underworld can be interpreted
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Opening Paragraph One of the most anticipated video games of the year‚ Call of Duty Black Ops II came out with a wave of anticipation and controversy. Questions and mystery surrounded the game as the previous ones failed to live up to lofty expectations. Treyarch‚ the designer of the first Call of Duty Black Ops was already at odds for mediocre product they had previously produced. There will always be players who love the game and those who hate it: however‚ for the new player is it worth paying
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❖ S 9: “Officer” includes directors‚ secretaries‚ receivers‚ administrators‚ liquidators‚ administrating trustees. ❖ S 9: “Director” includes shadow & de facto directors. enforcement of directors’ duties enforcement of statutory duties Civil penalties Who may apply for a Declaration or Order? ❖ S 1317J(1): ASIC may apply for a declaration of contravention‚ a pecuniary penalty order or a compensation order. ❖ S 1317J(2): The company may apply for a compensation order. ❖
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WHAT IS DUTY? It is necessary in the study of Karma-Yoga to know what duty is. If I have to do something I must first know that it is my duty‚ and then I can do it. The idea of duty again is different in different nations. The Mohammedan says what is written in his book‚ the Koran‚ is his duty; the Hindu says what is in the Vedas is his duty; and the Christian says what is in the Bible is his duty. We find that there are varied ideas of duty‚ differing according to different states in life‚ different
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In tort law‚ a duty of care is a legal obligation which is imposed on an individual requiring adherence to a standard of reasonable care while performing any acts that could foreseeably harm others. It is the first element that must be established to proceed with an action in negligence. The claimant must be able to show a duty of care imposed by law which the defendant has breached. In turn‚ breaching a duty may subject an individual to liability. The duty of care may be imposed by operation of
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The Aeneid; Artistic Expression or a Propaganda Epic This week’s question pertains to an epic mythological poem that is named The Aeneid. This is a story about a man named Aeneas (who was a Trojan); he decides to exit his destroyed city of Troy when he is ordered by one of his gods (Mercury) to follow a heroic determined path in life‚ and discovers the fact that he is destined to settle a new and most influential city in a foreign land. The irony that comes to be‚ is that this future colony will
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