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
Premium Corporation Corporate governance Types of business entity
the same consequences has taken place‚ where by a prominent member of the political party (Jonathan) threatened to persuade all Richard’s existing customers to award function tenders to Jonathan’s brother. This was a business threat to Richard‚ and due to fear of losing his business and model‚ Richard could have entered the agreement but not with his consent. Besides that‚ this case is also said to be induced by ‘undue influence’ (according to section 16 (1)‚ where the relations
Premium Contract Contract law
Jonah Watson Business Law Case Analysis #3 IN YOUR COURT A remedy is the relief provided for an innocent party when the other party has breached the contract. There are two types of remedies; remedies in equity and remedies at law. Remedies in equity are only awarded only if the remedy at law is inadequate. Remedies at law normally award monetary damages Ken‚ the owner of a famous candy store‚ and Sweet‚ Inc. have entered into a contract‚ essentially designating Sweet‚ Inc. as his
Premium Damages Tort Contract
made does not mean the promise can or will be enforced. Under the common law‚ a primary basis for the enforcement of promises is consideration. Consideration usually is defined as the value (such as cash) given in return for a promise (in a bilateral contract) or in return for a performance (in a unilateral contract) Something of legally sufficient value may consist of a promise to do something that one has no prior legal duty to do. The performance of an action that one is otherwise not obligated
Premium Contract Law Promise
Business Discussion You own University Heights Apartments‚ a business that rents primarily to students. One evening‚ your tenant Sharon is attacked by an intruder who forces the lock on the sliding glass door of her ground-floor apartment. Sharon’s screams attract the attention of Darryl‚ your resident manager‚ who comes to Sharon’s aid. Together‚ he and Sharon drive the intruder off‚ but not before they both are badly cut by the intruder. 1. Is the intruder liable for what he has done? a. Yes
Premium Physical security Door Storey
Employee Monitoring and Legal Liability 1. Employers can bear legal responsibility if they do not adequately monitor their employees. This is why sometimes extreme measures are taken to keep track of employee’s computer usage. There is a case from New Jersey several years ago in which a company was held liable by an appellate court because an employee transmitted child pornography from his workplace computer. The court ruled this way because the employer had a policy which stated that all email
Premium Employment Law Privacy
in contractual terms‚ are not intended to create legal obligations. Mr Balfour agreed to pay his wife a sum of money for maintenance while he was posted to Ceylon. After they separated‚ Mrs. Balfour took action to hold him to his payments. The action failed because there was no indication that the arrangement was intended to be a contract. .1 Difference between the Tortuous Liability and Contractual Liability. 3.1.1 Contract Law Contract law is that body of rules that govern contractual agreements
Premium Contract Tort Contract law
Business Law TRI 1‚ 2011 Assessment 1 3) Norris had decided for some time that he wanted to purchase a motel. After looking at several different areas‚ he settled on Port Stephens in New South Wales as offering him both the potential for a business and the lifestyle he was seeking. He rang a number of real estate agents‚ inquiring whether they had any motels listed for sale. He finally found a motel and general business listed with an estate agent called Evatt. Evatt told Norris that once he got
Premium Law Real estate Negligence
learning outcomes from the Module. Intended Learning Outcomes 1. Consider the theoretical underpinning of a marketing environment. 2. Analyse an organisational context in relation to the relevant issues with regard to the fundamental principles that underpin the marketing process. 3. Apply theory to practice in order to generate solutions to a simple problem that addresses major impact on business organisations. 4. Evidence judgement in being able to choose and justify a solution to the
Premium Marketing
Assignment Question Part A Issue The legal issue in this question is whether Jason Miao can go back on his promise of paying the extra $5‚000 to Damien‚ for covering the additional cost of materials and additional work needed to construct the swimming pool. Principle The underline legal principle applicable to this situation is that ‘once an offer is complete‚ or in this case accepted‚ the offer cannot be revoked’. Doing so would constitute to a breach of contract. The offer shows a clear intention
Premium Contract