5. Director’s Duties Director’s Duties are part of the idea of risk management; because they take risks all the time‚ they require a certain element of regulation. The law must provide a way of mitigating against the risk‚ so creditors and shareholders can have potential recourse. This is all done indirectly; the company will recover in the event of a breach of duty arising. If the company recovers and suffers no harm‚ then that protects shareholders and makes sure their investments are secure.
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to show that either: * The person or body is under a legal duty to act or make a decision in a certain way and is unlawfully refusing or failing to do so; or * A decision or action that has been taken is ‘beyond the powers’ (in Latin‚ ‘ultra vires’) of the person or body responsible for it. Only then‚ will a public law wrong have occurred. Generally‚ it does not matter if the judge‚ faced with the same decision‚ would have decided the merits of the case differently. This reflects the fact
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BUSI 2601: BUSINESS LAW CHAPTER 1: THE ROLE OF LAW How Do We Define Law? 1. Law is needed to protect persons and property; it prohibits conduct that society believes to be harmful to others. The law punishes a wrongdoer who is found guilty of such conduct‚ and usually also give the vistim a right to obtain compensation from the wrongdoer. It prescribes simple but vital rules that allow us to get on with our everyday lives. 2. Law gives government the powers to act for the benefit of society
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Peter James and Jenny Shorter are in business together designing and producing ladies hand-made clothing to order. They are based in Chelsea and trade under the name of J & S Fashions. They have not drawn up or signed any documents to form the business‚ or registered it with anyone. J & S Fashions has recently set up its own web page on the Internet‚ intending to gain customers that way and to expand. It has been suggested to Peter‚ by a friend in a pub‚ that it would make "sound business sense"
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The recognition of substantive legitimate expectations is to be welcomed‚ but the standard of review in such cases remains problematic. Discuss. Fairness and legal certainty are two crucial factors to be seen in decisions made by public authorities; the doctrine of legitimate expectations was first formulated by Lord Denning MR in Schmidt v Home Secretary (1969).The doctrine comes into play when a public authority makes a declaration regarding its policy‚ or the manner in which it will exercise
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COMPANY LAW MGMT3046 (MS37B) ACADEMIC YEAR 2011/2012 WORKSHEET 1 INTRODUCTION TO THE COMPANY LAW REGIME TYPES AND NATURE OF COMPANIES Learning objectives: The student should be able to: ✓ describe the various kinds of companies that may be registered under the Companies Act; ✓ explain the distinction between private and public companies with reference to the relevant provisions of the Companies Act; ✓ explain the concept of limited
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Chapter 9 Terms Administrative Law (p. 261)—written law produced by state and federal regulatory agencies as opposed to government bodies (thus‚ some disagreement exists as to whether administrative law is law in the full conventional sense or merely a “body of rules”); many of the activities classified as white collar crime are violations of administrative rather than statutory law. Antitrust Law (p. 251)—law directed against monopolistic practices that interfere with the operation of
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Malayan Law Journal Reports/1966/Volume 2/STEPHEN KALONG NINGKAN v TUN ABANG HAJI OPENG AND TAWI SLI - [1966] 2 MLJ 187 - 7 September 1966 8 pages [1966] 2 MLJ 187 STEPHEN KALONG NINGKAN v TUN ABANG HAJI OPENG AND TAWI SLI OCJ HARLEY AGCJ (BORNEO) KUCHING CIVIL SUIT NO K 45 OF 1966 7 September 1966 Constitutional Law -- Constitution of the State of Sarawak‚ Articles 1‚ 5‚ 6‚ 7‚ 10‚ 24 and 44 -- Whether Governor has power to dismiss Chief Minister -- Allegation that Chief Minister
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The Companies Act 2006 which received Royal Assent in November 2006 consists of 1300 sections and is the thought to be the single largest piece of legislation ever made. This Act restates and replaces most of the company law provisions brought in by the previous Acts. The 2006 Act introduces an extensive range of changes to areas of company law such as the formation of a company‚ directors’ duties and liabilities‚ members/shareholders rights and share capital maintenance. Although the majority
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WRIT OF MANDAMUS AN OVERVIEW Project submitted to: Md. Hadiur rahman (Faculty: Administrative law ) Project submitted by: Jaya kosley ROLL NO. 53 Semester ‘Vi’ HIDAYATULLAH NATIONAL LAW UNIVERSITY RAIPUR‚ (C.G) TABLE OF CONTENTS ACKNOWLEDGMENT 3 OBJECTIVES 4 LIST OF CASES 4 RESEARCH METHODOLOGY 5 INTRODUCTION 6 DEFINITION OF MANDAMUS 7 MANDAMUS IN INDIAN LAW PRIOR TO THE CONSTITUTION 7 FRAMEWORK OF LAW IN RELATION TO MANDAMUS 8 INTERPRETATION OF PUBLIC RIGHT AND
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