judgement rule states that directors and officers are immune from personal liability if their actions are reasonable when made but prove to be detrimental to the corporation. Next, the Duty of Loyalty may have been broken when Lawless didn’t put the corporation's interest ahead of personal interests. This happened when the Risk Corp. didn’t disclose the potential conflict of interests regarding cyber break-ins. The Duty of Care is relevant because the directors and officers have a duty to exercise reasonable
Words: 967 - Pages: 4
Formalities – Perfect/Imperfect Trust Introduction The question in this case refers to the creation of a trust, i.e. the formalities that are required. In the case of Serena, she has created a trust that holds the property in trust for Alice for life and then the remainder goes to Alice’s children. On the death of Serena, there is a valid will where Alice gets all of the property and there is no interest for Alice’s children. Therefore, the following advice is going to identify a trust is in
Words: 2760 - Pages: 12
or District. In the event of a major accident, locality managers would take charge or oversee the work of ambulance staff at operational (or bronze) command. Police Ambulance Commissioner Chief Executive Deputy Commissioner Director Chief Constable Assistant Director Deputy Chief Constable Locality
Words: 1673 - Pages: 7
Section 1. The registered office of the corporation shall be at: "123 Main Street" The registered agent in charge thereof shall be: "AOB Trinkets Inc.". Section 2. The corporation may also have offices at such other places as the Board of Directors may from time to time appoint or the business of the corporation may require. ARTICLE II -- SEAL Section 1. The corporate seal shall have inscribed thereon the name of the corporation, the year of its organization and the words "Corporate
Words: 3220 - Pages: 13
Entrepreneurial assistance. Sec. 303. Business development and management assistance for military reservists’ small businesses. Sec. Sec. Sec. Sec. Sec. 401. 402. 403. 404. 405. TITLE IV—FINANCIAL ASSISTANCE General business loan program. Assistance to active duty military reservists. Microloan program. Defense Economic Transition Loan Program. State development company program. TITLE V—PROCUREMENT ASSISTANCE Sec. 501. Subcontracting. Sec. 502. Participation in Federal procurement. Sec. Sec. Sec. Sec. 601
Words: 8652 - Pages: 35
Ethics and Professionalism in Accounting Accounting 411 Quiz #1 November 7, 2012 DUE ON WEDNESDAY, NOVEMBER 14, 2012 BY 11:59PM Instructions: Each question is worth 0.5 point. The quiz is worth 15 points total. It is an open-book exam. You may not consult with your classmates or the internet. Page 1 1. Deontology deals with A. Emphasizes rights of others B. Consequences of actions C. Following prescribed virtue characteristics D. Following the law as an element of ethical behavior 2
Words: 1248 - Pages: 5
important to him. Norm-based motivation can be said to be when the public servant is loyal to his duties while effective motivation is the pursuit of a noble course, that is, by heart. In the case of Bernadine Healy, public service culture presents itself inform of rational motivation. It is evidently seen that Healy follows what is of interest to her rather than what her heart tells her. Moreover, as the directors say, “red cross is about what your heart feels not what you think is right” (Sontag, 2001)
Words: 696 - Pages: 3
government, and the general public. The Agency Problem Economists call this failure of duty the problem of "agency." Top management is supposed to be the fiduciary (faithful agent) of the shareholders that own the enterprise. But a corrupt agent neglects fiduciary duty to the principal in favor of his/her own selfish interest. Lawyers refer to this same problem as a failure to perform “fiduciary duty” and a "conflict of interest." Ethicists see the problem as deviation from moral conduct. But
Words: 3160 - Pages: 13
working in public services because public sector are not private sectors which have the efficiency goal and make profits ,but those who work in public sectors are confront with the choice among efficiency equity moral and duty. The Facts and Chronology George Tenet was the Director of the Central Intelligence Agency from 1997 to 2004. Tenet graduated from the Georgetown University in 1976 with bachelor’s degree in foreign affairs, and received a master’s degree from Columbia in 1978. George Tenet
Words: 913 - Pages: 4
conduct its business in accordance with its stated values and its legitimate interests. Applicability: The Code is applicable to the following persons unless repugnant to the context or specified otherwise in this code: (a)Members of the Board of Directors of the Company; and (b)Senior Managerial Personnel i.e. all members of management at including all functional heads and such other
Words: 7790 - Pages: 32
