Fiduciary

the nature of the fiduciary relationship at issue here. In this matter, Martin owes no duties to Lauren or Rifkin. Rather, pursuant to the power of attorney, Martin only owes fiduciary obligations to Daniel to provide for his best interest, as Daniel—and no one else—is the principal. Indeed, plaintiffs’ complaint is full of allegations

There has been a shift in managerial attitudes toward, and consideration for, social and environmental issues in recent decades (Parnell, Scott, & Angelopoulos, 2013). While mangers have traditionally been obligated to work for the good of the shareholder, widespread adoption of the stakeholder theory demands that managers seriously consider the impacts of the firm’s decisions on all affected outside parties, or stakeholders (Boatright, 1994; Parnell et al., 2013). However, purchasing and supply

Question A: SUCCESSIVE CONFLICT Fiduciary Duty Practitioners must not accept a retainer in any action against a former client or someone from whom they have obtained confidential and material information and it is reasonable to conclude that there is a real possibility the information will be used to the persons detriment. There was no retainer between Virginia and Teddy, but a duty of confidentiality could still apply in equity if the information was believed to be confidential or in a lawyer-client

with is fiduciary duties. This is so as company directors are said to be in a fiduciary relationship with the company. When directors are in a fiduciary relationship with the company, they are prohibited from doing any acts deemed prejudicial to the company. In other words, by applying the judgment in Hospital Products Ltd v United States Surgical Corpn, directors cannot and should not use his position to receive personal gains. The traditional view is that the directors owed a fiduciary duty to

summarized in two classifications . He described the first class as “ meaningless” by considering that it alludes to directors walking free of the result of their decision except if there is a reason to hold them accountable, For instance, if they breach fiduciary duty or the duty of loyalty . He labeled the second class as “Misguided” because it creates a distinctive standard of accountability –gross negligence- for asserted breach of the obligation of care that vary from the usual tort law . The professor

Introduction Mentioning the name Enron to scholars and practitioners in accounting will always shift their thoughts to ethical accounting practices. This owes to the fact that the failure of organizations like Enron, WorldCom and Adelphia, led to changes in the standards of practice in accounting. Consequently, several authors completed studies on the collapse and demise of Enron. For instance, Moncarz et al., (2006), Cunningham and Harris (2006), and Dembiski et al., (2006) made publications on

a. Define the three different ways that you can organize your new business. Given the above facts, please provide one advantage and one disadvantage with respect to each type of business organization and then choose a business structure for your new venture; explain why you chose the way you did. (10 marks) There are essentially three major types of business organizations: Sole Proprietorship: A business which involves an individual carrying on business alone, the business is the sole responsibility

Talbot can be held liable under § 10(b) of the Securities Exchange Act of 1934 ("Exchange Act"), 15 U.S.C. § 78j(b), and Rule 10b-5, 17 C.F.R. § 240.10b-5, promulgated thereunder, for misappropriating information from Fidelity, in the absence of a fiduciary duty of confidentiality owed to LendingTree by Fidelity or Talbot when he executed the trades. We hold that Talbot can be held liable, under the circumstances here, but that a

account of profits from both appellant, for breach of contracts and fiduciary duty, and equitable compensation from one of the appellants for breach of duty and misuse of confidential information. The issue on appeal was Palmer J’s order that Harris pay compensation in the sum of $11,000 for his misuse of the confidential information. The appellants sought leave to appeal against the orders for exemplary damages for breach of fiduciary duty, which was granted. ACCOUNT OF PROFITS In Dart Industries

Fiduciary duty is a service relationship whereby the individual that owes the duty or the trust, such as the board of directors to the individual empowering the trust, such as the shareholder, performs a service. The board of directors carry out the services to the best of their ability on behalf of the individuals empowering them with that authority. Directors or board member’s responsibilities are to be aware not only of the Witten laws- statutes, thing that they are responsible for but also to