The case I have chosen that represents a breach of fiduciary duty is Holy Cross Parish v. Huether. In 1963‚ the Holy Cross Parish had contracted Huether to rebuild their auditorium. Huether had completed his assignment and turned the facility back to Holy Cross Parish with the assurance that it was up to par and done as requested. Fifteen years down the road the area became uneven and showing problems. Holy Cross Parish performed an inspection in the facility. They came to conclusion that the job
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Were there any abuses of power by the management and breach of fiduciary on the part of the director? Yes‚ there are abuses of power and breach fiduciary on the part of the director. Under Section 132(1) of the Companies Act 1965 state that the director shall all the times act honestly and use reasonable diligence on discharge his duties as director. As a fiduciary‚ a director’s duties are duty to exercise power in a good faith and in the interest of company‚ duty to avoid conflict of interest‚ duty
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Outcomes The decision of the Court of First Instance Carlson DHCJ rejected all Soler’s defences. In respect of the defence of "restraint of trade"‚ Carlson DHCJ held that the arrangement between the parties was a joint venture and the parties were of equal bargaining power. Soler appealed on the primary ground that the Agreements was in restraint of trade. The decision of the Court of Appeal Restraint of trade The Court of Appeal stated that Soler’s pleading in respect of their allegation
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between she and Ivanka when negotiation. Oprah breaches the fiduciary duty of no conflict between director’s interest and company’s interest. And the director is liable to account for any profit made from the transaction. Oprah needs to disclose the relationship when Ivanka’s company first approached GPF. A disclosure of the conflict of interest and ask for approval in the general meeting are needed to release herself from breaching the fiduciary duty. The ratification needs to be approved by the disinterested
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AGENCY Agency is a fiduciary partnership that results from the manifestation of consent by one person to another that the latter shall act on the former behalf & subject to his control‚ & consent by the latter so to act. E.g. Shareholders (principals) – officers (agencies). Principal: Has power to dictate how the agent will perform his duties. Is liable for what the agent does‚ but not for what an independent contractor does. Agent: Fiduciary of the principal – owes duties
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Journal of Business Ethics (2009) 91:65–82 DOI 10.1007/s10551-009-0068-2 Ó Springer 2009 Analyzing Insider Trading from the Perspectives of Utilitarian Ethics and Rights Theory Robert W. McGee ABSTRACT. The common view is that insider trading is always unethical and illegal. But such is not the case. Some forms of insider trading are legal. Furthermore‚ applying ethical principles to insider trading causes one to conclude that it is also sometimes ethical. This paper attempts to get past
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ethical behavior (Stanwick & Stanwick‚ 2009). By using these principles‚ a company’s directors and executives can determine if they are considering all ethical aspects in their code of conduct. The fiduciary principle states that the officers‚ executives‚ and employees of a company have a fiduciary duty to act in the best interest of the company and for the company’s benefit at all times. The effective use of this principle prevents conflicts of interest by ensuring that employees will not place
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interests above their own self-interest (AMA 2017). Currently‚ prescribers appear to be most focused on the possibility that authorities will determine their prescribing practices of opioids are improper. The prescriber-patient relationship depends on fiduciary responsibility and trust. Patients trust that a prescriber will treat them‚ without judgment‚ even if they are unworthy. Likewise‚ they also trust the physician’s main concern will be their well-being‚ without coming secondary to the physician’s
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THE UNIVERSITY OF ADELAIDE COMMLAW 7011 CORPORATE LAW (M) BUSINESS SCHOOL Week 3‚ Semester 1‚ 2012 TUTORIAL QUESTIONS WEEK 3 (Commencing Monday 12 March) Acknowledgement: These Tutorial Questions were originally devised by Martin Markovic‚ Senior Lecturer‚ Business School‚ University of Adelaide. Question 1 A‚ B and C are long time friends from University days. They share common interests especially with respect to
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Chapter 1 Which of the following governments would be considered a general purpose government? A)Mineral Valley State University. B)Jackson County. C)Billings Community Library. D)Darien Consolidated School District. Feedback: General purpose governments typically provide a wide array of service functions. This would be the case for a county government‚ whereas the other choices depict special purpose governments?entities that provide either a single service or a narrow range of services
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