(13th edition) p.163: ‘Essentially a trust is imperative and a power discretionary. But the dividing line is not as clear as one would hope; for many trusts contain discretionary elements; and many powers are given to trustees who are governed by fiduciary duties in the exercise of their powers.’ McPhail v. Doulton [1971] AC 242 at 448G per Lord Wilberforce: ‘It is striking how narrow and in a sense artificial is the distinction...between trusts‚ or as the particular type of trust is called‚ trust
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Case Study Unit I Alfred Elvins Columbia Southern University The article‚ “The NYSEG Corporate Responsibility Program” (Beauchamp‚ T. L.‚ Bowie‚ N. E.‚ & Arnold‚ D. G.‚ 2009) is a writing that addresses the social responsibility program of a major energy provider in the Northeastern United States. The article discusses the implications of a corporation that has addressed
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Introduction The case of “A Delima” is all about the family business which at first known as Delima Enterprise. The business growth very well so the enterprise then was being incorporated as Delima Enterprise Sdn Bhd. The directors are husband and wife‚ Encik Zayed and Puan Hashimah and they are also the main shareholders which involved in the company’s management. It 2006‚ the company got a contract worth RM750‚ 000. They are having shortage of fund and decided to make an application for loan.
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BACHELOR OF ACCOUNTANCY (HONS) AC220 INTEGRATED CASE STUDY (MAF 680) CASE 1: A DELIMA Table of Content No. Particular Page No. 1 Introduction : Company Background & Case Summary 3 2 Identified Issues In DESB 4 - 8 3 Questions & Answers 9-13 4 Recommendations 14 - 17 5 Conclusion 18 6 Reference 19 7 Appendix 20-26 INTRODUCTION Company Background Delima Enterprise was set up by Encik Zayed in 1981. It engaged in trading and supplying related products including
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http://www.scribd.com/doc/8400325/Agency-Problem-Assignment [Accessed 30 Sep 2008]. Michael J. and William M. (1976)‚ Robert T.K.‚ Encyclopaedia of Business: Agency Theory‚ 2nd edition‚ A-Ar. Professor Bernard S.B. (4th April 2001)‚ The Principal Fiduciary Duties of Board of Directors‚ pp-2.
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as a shrewd business man‚ she agreed to share the profits generating form this new organization obviously. Thus‚ Alicia is a promoter. 2. Does Alicia breach the fiduciary duties? According to Gluckstein v Barnes‚ a promoter should be honest and disclose all the information to the independent board of directors to meet his fiduciary duty rather than personal interest. In this case‚ Alicia hid the fact of converting Pitt Street into a pedestrian mall. In other words‚ she did not fully disclose the
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Golden Parachutes Often in a stack of current newspapers‚ the front page topics that will catch your attention are ethical issues behind upper management compensations; in this case‚ on March 30th 2009‚ the issue that surfaced was Rick Wagoner’s leave from GM and his retirement package and how his actual/ base compensation doubled in his last year from approximately $7M to $15M.(7) With the current economic crisis‚ many people outside the business society have become aware of the ridiculously
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logical in the rule and nature of corporate responsibilities‚ nevertheless‚ the program itself is a great goal and important role in the society. 2- Would Milton friedman and R.Edward Freeman believe that Project Share is consistent with NYSEG’s fiduciary responsibility to its shareholders? Why or why not? I think Freidman will not agree at all with the idea because he
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would not be able to function and that they needed to file for bankruptcy. In order for the firm to open up for business‚ they would need a government bailout plus the banks that were bidding on them to take out there bad assets. Question 2 The fiduciary obligations and responsibilities of Lehman brothers board of directors is to make sure that the firm does not take certain risks to put them in a bad financial position. The board of directors should do anything that they can in order to make the
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provision of section 122(1) which is mention about at least 2 directors and both of them are the directors of the company. For their duties‚ according to the law they are two types of duties of director‚ duties of care‚ skill and diligence and fiduciary duties. In this case does not show both Encik Zayed and Puan Hashimah take an effort to know his right and obligations in the company it’s been prove by statement they are not very familiar with the company act. Encik Zayed shows his duty care by
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