BUSINESS ASSOCIATIONS OUTLINE I. Overview A. Major Course Themes i. Authority – what is corporation legally empowered to do and at what point is a corporation overstepping its bounds? ii. Responsibility – once authority has been established‚ what are the limitations of that authority – what is the duty of care? iii. Liability – what actions should directors take to insulate themselves and when can they be held liable for breaching duty of
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Directors Duties 1 Types of directors: Ordinary‚ de facto‚ shadow directors and non executive directors. Table A section 80 is the cornerstone of corporate governance. Gives the directors powers to act as they see fit for the benefit of the company. Directors have a FIDUCIARY relationship with the company – trust and confidence. The distinguishing obligation of a fiduciary is the OBLIGATION OF LOYALTY. Shadow directors – not appointed by the board – have a decisive say in managing from a distance
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The tort protects an individual from two forms of interference or damage: (1) interference with the enjoyment‚ comfort or use of his or her land; as well as (2) physical damage to the land. The claimant should establish that there has been substantial interference
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EXISTENCE OF A DUTY Before 1932 there was no generalised duty of care in negligence. The tort did exist and was applied in particular situations where the courts had decided that a duty should be owed‚ eg‚ road accidents‚ bailments or dangerous goods. In Donoghue v Stevenson [1932] AC 562‚ Lord Atkin attempted to lay down a general principle which would cover all the circumstances where the courts had already held that there could be liability for negligence. He said: "The rule that you
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Client Advice Part A will be reviewing the client’s statement to advice on possible trespass to person and/or trespass to land and/or private nuisance action(s) that could be brought by or against our client. The advice will be based on the facts from Jay’s statement. However‚ where necessary additional legal facts may be required‚ which will be addressed in Part B. Jay V Poppy – Entering the bar – Trespass to Land Title to sue Jay must have the exclusive possession of the land to have requisite
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Therefore‚ this essay will discuss Mavis given health condition. Mavis is 60 years old retired Nurse who had undergone a laparotomy for an acute bowel obstruction. According to the case study‚ Mavis first day post-op and her recovery has been uneventful. It is stated that Mavis vital signs have all been within normal limits. However‚ that morning‚ Mavis vital signs have somewhat altered with her heart rate has increased to 92bpm‚ her blood pressure has decreased to 105/70‚ temperature is 38.o C.
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training. All ways wash your hands before attending a service user before and after‚ and wear the protective aprons and gloves that are supplied by your work the duty is in exercising caution and to refrain from causing another person injury or loss. In tort law‚ a duty of care is a legal obligation imposed on an individual requiring that they adhere to a standard of "reasonable care" while performing any acts that could foreseeable harm others. Aiii When an employer adheres to the duty of care in a setting
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SYSTEMS‚ INC‚ INC. DATA PROCESSING AGREEMENT This DATA PROCESSING AGREEMENT is made and entered into as of the 1st day of August 2008 by and between Big Bank and Systems‚ Inc. In consideration of the mutual promises and covenants contained herein‚ the parties hereto agree as follows: 1. DATA PROCESSING SERVICES. Systems Inc. agrees to render to Big Bank the data processing services described on Exhibit "A" (the "Services") for the term of this Agreement‚ and Big Bank agrees to purchase the Services
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Chapter 1 – The demand for an Auditing and Assurance Profession Key Services for Public Accounting Firms Audits High Assurance (95% - 99%) Reviews Moderate Assurance (60% - 70%) Compilation Low to No Assurance (0% - 10%) Assurance Engagements (Triangle diagram based on the subject matter at hand) Practitioner (Auditor) Users Accountable Party (Management) Practitioners give the Users a written conclusion Accountable party must have an accountability relationship with the Users
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MGMT 625 Midterm Exam TRUE/FALSE QUESTIONS (2 POINTS EACH) 1. The stability and predictability of the law is essential to business activities. ANSWER: TRUE 2. Uniform laws apply in all states‚ including those in which the laws have not been adopted. ANSWER: FALSE 3. A state law that conflicts with the U.S. Constitution will be deemed unconstitutional. ANSWER: TRUE 4. Damages is a remedy at law. ANSWER: TRUE 5. Equitable remedies include injunctions and decrees
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