1. DIRECTOR 1. WHO IS DIRECTOR? A company is a business entity whereby it is associated or collected of individual real persons and/or other companies, who each provided some form of capital. This group has a common purpose or focus and an aim of gaining profits. This collection, group or association of persons can be made to exist in law and then a company is itself considered a "legal person". The name company arose because, at least originally, it represented or was owned by
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“blue chip” stock and penny stock on his name as custodian for the children, as required by the Uniform Gifts to Minors Act (UGMA).This stocks suffered a major loss except one Buder’s ex-wife, Sartore, sued him, alleging that he had breached his fiduciary duty owed to the children under the UGMA. She sought to recover the funds lost by Buder’s investment of the children’s funds in penny stocks. Sartore wins the case on behalf of her children; Buder must make up for the losses suffered by the children’s
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Management and Control of the Corporation Kenneth Weddle LEG 205 Strayer University Professor John Taulane September 2, 2015 Shareholders, as the owners of the corporation, are entitled to many legal rights. The most important goal of the corporation should be wealth appreciation for shareholders and many times this is not codified in a specific legal right (Velasco, 2006, p. 409). More often these rights need to be specified in the corporation’s incorporation documents or bylaws. Velasco
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Unit 7 Questions Johnny Palafox 1. How much obedience and loyalty does an agent employee owe to an employer? What if the employer engages in an activity—or requests that the employee engage in an activity—that violates the employee’s ethical standards but does not violate any public policy or law? In such a situation, does an employee’s duty to abide by her or his own ethical standards override the employee’s duty of loyalty to the employer? When there is an agent employee to an employer
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“Deconstructing Independent Directors”(*) María Gutiérrez Maribel Sáez Universidad Carlos III de Madrid and ECGI Universidad Autónoma de Madrid January 2012 Abstract In this paper we argue that boards of directors lack the mandate, the incentives and the ability to control insiders, especially in jurisdictions where the main agency problem arises between controlling and minority shareholders. We analyze the problems that render independents an inefficient monitoring device for
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1. DIRECTOR 1. WHO IS DIRECTOR? A company is a business entity whereby it is associated or collected of individual real persons and/or other companies, who each provided some form of capital. This group has a common purpose or focus and an aim of gaining profits. This collection, group or association of persons can be made to exist in law and then a company is itself considered a "legal person". The name company arose because, at least originally, it represented or was owned
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excess of 4,000. The decision was unsettled due to the 16th amendment in 1913 giving congress power to lay and collect taxes on incomes. A Farmers’ Loan/trust company intended on its shareholders to pay tax and revenue to people who was acting as a fiduciary capacity to the U.S. Collector. From Massachusetts Charles Pollock filed a lawsuit to enjoin the company , but he lost in low class courts until he came to the Supreme Court who ruled in his favor because “It declared that a direct income tax was
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Week 1 Checkpoint: Chapter 1 page 25 Questions 13 &14 13. Is a professional accountant a businessperson pursuing profit or a fiduciary that is to act in the public interest? This can be a double edged sword. Of course someone chooses to go into a certain field for financial gain. We all have to make a living but in order to be an Accountant there has to be some kind of pleasure in helping others with their financial futures. An accountant’s main goal is to act in the public interest. An
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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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Employment Law CLASS 13: November 16, 2015 Book pgs. 1017-1019; 1032-1042; 1043-1047; 1051 1075-1079; 1088-1094; 1108-1111; 1123-1126; 1131-32; 1137-1145; 1194-1202. Unemployment – Chapter 12 Bankruptcy Large and small American companies have become bankrupt either as a means to terminate business or a way to reorganize and continue to operate. The Supreme Court held unanimously in NLRB v. Bildisco & Bildisco that a collective bargaining agreement is only an executory agreement, and can
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