deprives the corporation of that advantage, what breach of fiduciary duty has been committed? Duty of care by violation of the business judgment rule Duty of loyalty by self-dealing Duty of obedience by competing with the corporation Duty of loyalty by usurping a corporate opportunity 4.) If a corporate officer in the position of secretary intentionally takes over the powers provided to the treasurer in the corporate documents, what fiduciary duty does that corporate secretary breach? Duty of care
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Assignment 2: JPMorgan Chase Aaron L Gardner Leg100 Instructor: Keith Smith 08/22/2013 In the summer of 2012, JPMorgan Chase, the biggest U.S. bank, announced trading losses from investment decisions made by its Chief Investment Office (CIO) of $5.8 billion. The Securities and Exchange Commission (SEC) was provided falsified first quarter reports that concealed this massive loss. Discuss how administrative agencies like the Securities and Exchange Commission (SEC) or the Commodities Futures
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Agents play a vital role in commercial activity. Many commercial transactions in the field of commerce are conducted through agents who act as intermediaries and represent the interests of their principals in the conduct of the principals business. Auctioneers, estate agents, commercial agents,commission agents, mercantile agents, brokers, factors, solicitors and barristers are just a few of the many people described as agents who may act on people behalf in the ordinary course of life. The essential
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Regent University College of Science & Technology, Accra, Ghana CORPORATE AND BUSINESS LAW I—Course Outline Instructor: Professor Charles O. Kwarteng References Materials Books Required: K. Adjei-Mensah, Principles of Business Law, Volume ONE (ISBN 9988-0-0944-5). (good for business law) Recommended. K. Adjei-Mensah, Principles of Business Law, TWO (ISBN 9988-0-0945-3) (good for companies) . Internet Materials: www. kkaufhold.net/files_/Bussiness_Law_Outline 2.pdf (good
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philosophical school of thought since it advocated for a strict observance of ethical behavior. One of the major problems is the conflict between the ethical duties owed to various classes of person versus a fiduciary duty which may be a legal requirement of professionals to their fiduciaries. Virtue ethics on its part looks on the moral appeal of or integrity of the moral player and looks to professional societies such as certified public accountants to help identify ethical issues and to guide ethical
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A federal agency such as (SEC) U.S. Securities and Exchange Commission is responsible for making sure they are enforcing the federal securities set forth. In order for this agency to be active in enforcing these laws Congress allows the agency to bring Civil enforcement actions against anyone whether a company or individual who has committed accounting fraud. By providing false information or any other violations of the securities law SEC makes it a requirement that people or companies submit quarterly
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Features of the Website The succeeding paragraphs will describe the major features of the US Department of Labor Website at http://www.dol.gov/dol/topic/health-plans/cobra.htm. The first feature is Wages Subtopics. Wages Subtopics provide additional information employees can use to help monitor their wage benefits. By choosing from the Wages subtopics list it will also help employees narrow their browsing. This information is useful so that employees and employers understand employee
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has committed numerous ethical violations and crimes. First, the attorney may have broken his fiduciary duty of responsibility to his client by committed the ethical violations of Safekeeping of client’s Property. Under the Safekeeping of Property, rule 1.15, comment 1 of the Model Rules of Professional Conduct. A lawyer should hold property of others with the care requires of a professional fiduciary. All property that is the property of clients or third persons, including perspective clients,
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Executive Summary Various issues in the common law arise when agents make contracts on behalf of principals. Should a principal be bound when his agent makes a contract on his behalf that he would immediately wish to disavow? The tradeoffs resemble those in tort, so the least-cost avoider principle is useful for deciding which agreements are binding and can unify a number of different doctrines in agency law. In particular, an efficiency explanation can be found for the undisclosed-principal rule
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Case 2-8 Juggyfroot This case shows the auditors resisting pressure from the client to change to a non justified accounting treatment. The stakeholders of this case are the bank, the shareholders, creditors, suppliers, employees, and officers of the firm. The stakeholders expect non-misleading financial statements. Deziloo has an obligation to perform the audit with integrity, objectivity, and due professional care. From a rights perspective, it is not right to mislead the investors by making
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