Duties of Corporate People Duties of Corporate People Corporations are businesses that are seen as separate entities from their owners. Corporations have shareholders which can be privately or publicly held. To create a corporation where stockholders interest is looked after, a corporate hierarchy is established. This hierarchy is divided up into groups between ownership and management. Each group has a set of responsibilities and duties that must be carried out as part of the corporate process
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Introduction In acting as advisors for the Pilot’s Association Australia and Airlines Union Australia, we seek to explore the legality of the various actions of the Jetair Ltd.’s Board of Directors which ultimately lead to the hiring of a new staff body in New Zealand by JetairNZ Ltd at a lowered salary and the subsequent redundancy of Jetair Ltd.’s Australian-based senior managers and pilots. The outcomes sought by the various employee associations seek for firstly, the imposition of the Australian-based
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Composition of the Board of Directors The Company’s remuneration policy, as determined by the remuneration committee, is presented to shareholders for endorsement at the last annual general meeting. This is in accordance with the Corporate Governance - King III Report requirements that ensures that shareholders should approve the company’s remuneration policy. Shareholders should pass a non-binding advisory vote on the company’s yearly remuneration policy and the board should determine the remuneration
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three-person board of the company. As a relative new and fast growing company, Tesla Motors has changed its Board of Directors almost every year from 2004 to 2009. In these 5 five years, the company raised over $200 million by six funding events (see exhibit 1). For each time the company raised capital, Tesla Motors chose a lead investor to be the member of Board of Directors. For example, in 2004, Elon Musk invested $6.3 million out of $7.5 million during Tesla’s first funding event Series A.
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After the Fire is a non profit corporation geared towards helping convicted felons become accustomed to life after prison. The goal of the organization is to assist participants to change negative patterns of thinking, feeling and behaviors that predispose them to negative actions such as drug abuse, criminal activities and anti-social behaviors. After the Fire’s mission comes is three-fold. The first is to provide a range of direct hands-on constituent services including but not limited to counseling
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Question 1 1. The principle or rule known as the maintenance of share capital is based on the need to protect shareholders and creditors. Share capital is the contribution made by shareholders by subscribing shares of the company. A company’s creditors can only look to the share capital for the payment in the event of a winding up. To protect creditors, a general rule known as the rule in Trevor v Whitworth was developed to prohibit a company from reducing its share capital because a reduction in
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CORPORATE FORM 16 A.) Formation and Structure 16 B.) Debt, Equity, and Valuation 22 III.) CONTROL OF CORPORATE DECISIONS 32 A.) The Role of the Shareholder 32 B.) Management Obligations 50 1.) Duty of Care 51 2.) Duty of Loyalty 56 3.) Duty of Fairness: Parent-Subsidiary Relationships 63 4.) Duty of Good Faith 64 5.) Management Obligations Under Federal Securities Laws 67 C.) Shareholder Litigation 76 IV.) Structural Changes 85 A.) Transactions in Control 85 B.) Mergers and Acquisitions
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Sebastian, the manager of the Poorich supermarket owes Sebastian and his two sons a duty of care as a customer. The concept of duty of care generally known as the ‘neighbour’s principle’ is effectively established in the case of Donoghue v Stevenson. The legal principle of Donoghue v Stevenson is, in order for the plaintiff to sue in negligence he has to prove the four vital points which are, the defendant owes a duty of care to the plaintiff and the defendant did not take proper care which resulted
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Palace after the Board of Directors unanimously approved the transaction. Upon learning of the acquisition, the Sports Everywhere shareholders plan to file a derivative lawsuit alleging that the directors breached their fiduciary duty to the corporation. Eugene Dallas (“Dallas”), Chairman of the Board of Directors, inquires whether the business judgment rule is applicable to the determination of the Board. STATEMENT OF FACTS Dallas is the Chairman of the Board of Directors of Sports Everywhere, a company
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doctors and nurses, and negligent supervision and oversight on their part. When this issue was brought to Dr. DoRight’s attention during a few meetings, the President discussed the issue with his Regional Director Compliance Manager and Executive Committee in January 2009.The Regional Director Compliance Manager and Executive Committee explained to the President that the matter would be investigated and any issues would be reported immediately. Two years after the matter has been reported there
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