LECTURE NOTES I. INTRODUCTION TO INCORPORATION 1. Definition of a "Company" A company is a "corporation" - an artificial person created by law. A human being is a "natural" person. A company is a "legal" person. A company thus has legal rights and obligations in the same way that a natural person does. 2. Companies and Partnerships Compared (a) A company can be created only by certain prescribed methods - most commonly by registration under the Companies Act 1985. A partnership is created by the express
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World War II. I will identify and explain four logistical alternatives Scanlan could have addressed, Analyze and discuss Scanlan’s motivation toward the Constitution (the law), bureaucracy (as a public administrator responsible to the public), and obligation and discuss different actions that Scanlan could have taken. One logistical alternative that Scanlan could have addressed would have been to develop some kind of fail safe or escape route. Having these plans could have in some way save or improve
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The Importance of Ethics in the Workplace Ethics, defined by Webster’s Dictionary, is “the discipline dealing with what is good and bad or right and wrong or with moral duty and obligation” (Merriam-Webster, 2002). There are no hard and fast rules that govern ethics, just agreed standards of moral duty and obligation. There are also civil, criminal and family laws, etc., that describe right and wrong for everyone. However, there are occupations where you do not violate the law but violate ethical
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1 Satyam Scam in the Contemporary Corporate World: A Case Study in Indian Perspective Introduction Satyam Computer Services Ltd was founded in 1987 by B.Ramalinga Raju. The company offers information technology (IT) services spanning various sectors, and is listed on the New York Stock Exchange and Euronext.Satyam's network covers 67 countries across six continents. The company employs 40,000 IT professionals across development centers in India, the United States, the United Kingdom, the United
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it pertains to ethical issues. According to the American Nurses Association, “The Code of Ethics for Nurses was developed as a guide for carrying out nursing responsibilities in a manner consistent with quality in nursing care and the ethical obligations of the profession (American Nurses Association, 2010).” The code has evolved over the years because of the hard work by the nurses in the past. The code of ethics provides a tool to the nursing profession. Clarity of Goals Many ethical challenges
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Constitutional Law- Supremacy Clause- “This Constitution, and the laws of the United States which shall be made in pursuance thereof…… shall be the Supreme law of the Land; and the Judges in every state shall be bound thereby …..” Article VI Judicial Review- U.S. Constitution doesn’t provide that federal courts can declare a statute unconstitutional and void, but they can./Marbury v. Madison, 1803 introduced judicial review Activism v. Restraint- Over time, not a liberal vs. conservative issue
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tasks as follows: To promote and enforce compliance with the Act; To receive and investigate complaints from legal or natural persons and consumer bodies; To promote public knowledge, awareness and understanding of the obligations, rights and remedies under the Act and the duties, functions and activities of the Authority; To promote the creation of consumer bodies and the establishment of good and proper standards and rules to be followed by such bodies in protecting competition and consumer welfare;
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Corporate governance refers to the system by which corporations are directed and controlled. The governance structure specifies the distribution of rights and responsibilities among different participants in the corporation (such as the board of directors, managers, shareholders, creditors, auditors, regulators, and other stakeholders) and specifies the rules and procedures for making decisions in corporate affairs. Governance provides the structure through which corporations set and pursue their
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The word corporation is derived from the Latin word Corpus which also means body. A corporation is therefore a legal person brought into existence by a process of law and not by natural birth. Owing to these artificial processes they are sometimes referred to as artificial persons, not fictitious persons. Company law can be described as the body of laws and rules that govern companies created under the United Kingdom Companies Act of 2006 (hereafter referred to as the Act of 2006). Section 1(1)
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fiduciary duty by the directors in connection with a program of radio advertising. In the second, they alleged a breach of fiduciary duty relating to payments made to a corporate vice-president and director. However, the court did not fine these to be so therefore dismisses the action. Joan can not bring against board for breach of contract as a shareholder but breach of contract violation nor fiduciary duties. The fiduciary must subordinate his individual and private interests to his duty to the
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