"Fiduciary" Essays and Research Papers

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Specific Relief Act, 1963 * Quasi – trustee - Promoter is neither an agent(as principal not in existence) nor a trustee(trust not in existence) of the company but has certain fiduciary duties under Companies Act. He is a quasi – trustee of the company FIDUCIARY POSITION OF PROMOTER * Promoter stands in fiduciary relation to the company he promotes, as indicated below: 1. Not to make any profit at the expense of the company, directly or indirectly. If this rule is violated, company may...

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Downsizing: Fiduciary and Great Harm

rights don’t match with corporations because they are using the property for profits not for a home. The second argument for downsizing is that managers are bound by a fiduciary duty to their shareholders that is greater than any duty to anyone else. Orlando counters by stating that there is not an actual regulated duty. "Fiduciary duties” are a label for the obligations that a manager owes a shareholder doesn’t create or establish duties to the agent. Another agrument for the employees having equal...

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Fiduciary Assignment - Bezirdjian V. O’reilly

Bezirdjian v. O’Reilly In Bezirdjian v. O’Reilly, the plaintiff (Bezirdjian) files a shareholder derivative complaint on behalf of Chevron Corporation citing that current and certain former member of Board of Directors (BOD) breached fiduciary duties, grossly managed the corporation, were involved in constructive fraud, and wasted corporate assets “in connection with illicit payments Chevron allegedly made to Saddam Hussein in exchange for Iraqi oil from 2000 to 2003.” Bezirdjian has a legal...

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Agency Relationship

relationship is a consensual relationship between two parties, where one party, the principal, gives authority to another party, the agent, to act on behalf of and under the control of the principal to deal with a third party, thereby creating a fiduciary relationship. The law of agency allows one person to employ another to do his/her work, sell his/her goods, and acquire property on his/her own behalf. Although a principal-agent relationship can be created by a contract between the parties, a contract...

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Cl Summary

Brian Pty Ltd(1985)HCA 49;157 CLR 1 This is an appeal which is against the decision upholding the previous appeal. While the legal issue is that whether UDC who is the appellant in this case had fiduciary relationship with Brian who is the first respondent and whether UDC acted in the breach of its fiduciary duty to Brian. Actually, the fact of the case is that UDC, SPL and others got involved into two arranged development of land which turned into one shopping center with contribution from all...

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Director Duties

faith and best interest of the company as well as disclosure personal interest. The second issue is possible remedies for Bryan while he has been conducted unfair and oppressive. ISSUE 1: WHAT HAS DON BREACHED? Fiduciary duties to disclose personal interests Directors are under both fiduciary and statutory duties to avoid conflicts between their personal interests and the interests of the company. The director is to declare the “nature and extent of the interest” and the relation of the interest to...

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Quiz: Agency and D. Incorrect

Interactive Quiz for Clarkson-12e, Chapter 32 Chapter 32 – Agency Formation and Duties 1. Agency is defined as: a. the relationship of a child to its parents in terms of duty and obedience. b. a fiduciary relationship between two parties, in which one party agrees to represent or act for the other. c. a relationship in which one works for, and receives payment from, an employer, but whose working conditions and methods are not controlled by the employer. d. a relationship involving a...

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Csr Polytechnic Case Study

the minimum capital requirement for thrift banks -To Strengthen the Bank’s risk management function in order to regain the trust back from its depositors and investors Areas of consideration *EXTERNAL 1. Legal/political - in its failure in fiduciary trust and confidence in financial institutions rather to help the capital markets and the economy it causes a great effects on individual by the PBI’s disregard of such corporate governance principle -PSBI must meet its required amount to enable...

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LAW 531 Week 3 - Teasm Reflection

and Schutte breach their fiduciary duties that they owed to Premier Technology while they were high level managers at Premier Technologies. The jury unanimously voted in favor of Premier Technologies and agreed that both Orr and Schutte violated the Idaho Trade Secret Act, and that they both had a fiduciary relationship with Premier. The jury also ruled in favor of Premier, implicating Petersen Inc. had, in fact, conspired with Orr and Schutte in breaching of their fiduciary responsibility to Premier...

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Gov and Non Profit Chapter 2

used in the governmental funds. 3. Fiduciary activities of a government involve the government’s discharge of its fiduciary responsibilities, either as an agent or trustee, for parties outside the government. For example, a government may serve as agent for other governments in the administering and collecting of taxes. Fiduciary activities are accounted for in agency funds, investment trust funds, pension trust funds, and private-purpose trust funds. Fiduciary activities are reported only in the...

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