Director’s duties simply mean that directors shall act in accordance with honesty‚ diligence‚ and prudence. Besides that‚ director’s duties also include avoidance of conflict of interest. Thus‚ directors should state their intention in any of the transaction in which the company is involved besides following the instructions of the board of directors. Directors should also exercise caution and competence in all circumstances as a sensible person would react under the situation. Directors also should
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deliberate intent to cause harm that exists when a person makes a statement with either knowledge of its falsity or reckless disregard of the truth. actual malice is required to establish defamation against public figures. appropriation In tort law‚ the use by one person of another person’s name‚ likeness‚ or other identifying characteristic without permission and for the benefit of the user. assault any word or action intended to make another person fearful of immediate physical harm—a reasonably
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Business Law What is Business Law? Businesses interact in many and varied ways. To name just a few types of business transactions‚ there are contracts‚ mergers and acquisitions‚ leasing‚ etc. How these transactions are carried out is overseen by Business Law. Additionally‚ how businesses are formed is a large part of Business law. This area of law is very wide-ranging‚ although it deals primarily with defining the rights and responsibilities of businesses‚ rather than enforcing these laws. Because
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|School of Business | | |LAW/531 Version 6 | |Business Law | | | Course Description This course prepares students to evaluate the legal risks associated with business activity. Students create proposals
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First‚ there are five levels of law that are connected to the movie “End of the Spear” which include; Divine/Eternal‚ Natural‚ Revealed‚ Church‚ and Civil. Divine and eternal law is God’s vision of good and evil‚ like how we are told to love one another. In the movie this relates to how some of the foreigners and missionaries knew that they needed to respect each other. But the Waodani did not follow this concept. Natural law is human instinct‚ the desire to preserve life and relationships‚in the
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Business Law Name: Course: Instructor: Date: Business Law Legal Issue Both parties entered into a legally binding contract. The legal issue is a breach of contract. For a contract to be legitimate‚ it must have the following three elements; an offer must be made; there must be acceptance‚ and finally there must be consideration. Facts: The defendant entered into a legal agreement with the plaintiffs‚ Jackson Boris and Klara Koop. The defendant made an offer
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thefreedictionary.com. The duties are a series of common law‚ statutory‚ and equitable obligations. The duties are analogous to duties owed by trustees to beneficiaries‚ and by agents to principals. Directors owe duties to the corporation‚ and not to individual shareholders‚ employees or creditors outside exceptional circumstances. The duties of a director are divided in two sections‚ the common law duties and the statutory duties of directorship. Common law duties; Duty of Good Faith The most general obligation
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BUSINESS LAW ESSAY PLAN ➢ Acceptance must be communicated to be effective. ➢ Where the parties contemplate acceptance by mail‚ acceptance will be complete as soon as the letter is properly posted. Postal rule definition ➢ Actual communication versus constructive communication ➢ Actual acceptance (real) versus constructive acceptance (postal rule) (Graw p.89) ➢ Contract is an agreement which the law enforces. ➢ Contract law is the basis of business law ➢ Two main sources:
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a case‚ a court will not use common law if there is a statute that applies to the dispute. | | Student Response | Value | Correct Answer | False | 0% | True | | Score: | 0/2.5 | | | 2. | | | Dicta is another term for “controlling precedent.” | | Student Response | Value | Correct Answer | False | 100% | False | | Score: | 2.5/2.5 | | | 3. | | | One of the important powers of courts in the United States is to interpret legislation. | |
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Introduction: Contract law is come from a Latin phrase‚ which is pacta sunt servanda (pacts must be kept). Everyday‚ all of us make contracts. It can be a written contract if required‚ for example when buying a car. On the other hand‚ the most common of contracts can be and are made orally‚ like buying from the mini market. A contract intends to make a legal agreement between two or more people or businesses (called parties) that sets forth what the parties will or will not do. Thus‚ The law recognizes breach
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