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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Pusateri v. E. F. Hutton & Co.‚ Inc. Fiduciary Duty after Francis Pusateri retired; he met with Gilbert J. Johnson‚ a stockbroker with E. F. Hutton & Co.‚ Inc.‚ and informed Johnson that he wished to invest in tax-free bonds and money market accounts. Pusateri opened an investment account with E. F. Hutton and checked a box stating that his objective was “tax-free income and moderate growth.” During the course of a year‚ Johnson churned Pusateri’s account to make commissions and invested Pusateri’s
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Dustin Brown Student ID# 202011 BBA 3210‚ Business Law Research Project: Analyzing a Contract August 22‚ 2012 “Analyzing a Contract” Introduction I have identified a basic contract that is used when a provider and client have agreed to a specific service and payment for service (Savetz‚ 2012). The contract is at the end of this paper. In my scenario‚ the Client has requested the Provider to complete a concrete pad in the back yard of his new home. I will analyze this contract and identify
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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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the two main types of subject-matter jurisdiction in federal court. Definition from Nolo’s Plain-English Law Dictionary The power of the federal courts to decide civil disputes between citizens of different states‚ provided the amount the plaintiff seeks in damages exceeds an amount set by Congress (currently $75‚000). The so-called citizens may include companies incorporated or doing business in different states or a citizen of a foreign country. However‚ note that the federal courts traditionally
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that marketing create needs and those who believe that marketing does not create needs but only satisfy it have real examples. The marketing function is to search needs and then satisfy it! But the issue that some companies create needs‚ so we should not call it Marketing‚ because none of the marketing function is creating needs‚ therefore we should call it something else‚ I say it should be called Ultra Marketing! Or New Marketing! Marketers do not create needs: Needs preexist marketers
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Ahmad is in business selling microcomputers. Following a major refurbishment of his shop premises he publishes the re-opening of his shop with a large newspaper advertisement on 30 august. Formalities are a general rule contracts do not need to comply with any sort of formalities. Thus‚ while it is more difficult to prove contracts that are entirely or partly oral‚ this is a matter of evidence and procedure only and is not relevant to the validity of a contract. A contract of sale may be made in
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require and employee to dedicate long hours and extensive travel time to their careers. When someone pursues a job it is their responsibility to gather the appropriate information by doing research on the company they want to pursue a career with. If they truly intend to become and employee they need to figure out and get familiar with all the requirements of the job they want to get. Some of the requirements that should be researched are the main details of the job like the hours you would be required
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Bank In most cases‚ a breach of contract takes place in circumstances whereby one party does not perform exactly and precisely his or her contract obligations. These cases have been recorded mostly in the real estate industry. This is because the majority of sellers normally wish to vacate the house they are selling hastily. The Washington Mutual Bank victimized its borrowers through overcharging for insurance mortgage substitution. The Washington Mutual Bank originated loans of home mortgages in
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regulation in Saudi that has specific implication when settling disputes. It is forbidden in Islamic law by Qur’an when the operation concerned is risky and could result in deceit of one of the parties (http://www.investopedia.com/terms/g/gharar.asp). In this case‚ the U.S could claim that the reparation cost of breaching the contract could be classified as Gharar as it is specific to Islamic law: Saudi being an Islamic country with applicable jurisdiction‚ the US could claim gharar as the cost of
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