Explain in details why Directors have a duty of loyalty to the company and must avoid conflicts of interest. Link it to the 2006 company act.
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Explain in details why Directors have a duty of loyalty to the company and must avoid conflicts of interest. Link it to the 2006 company act.
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- On Wednesday, March 9, 2022, Juniper Corporation, a calendar-year corporation, filed a consent to revoke its S corporation election. No date is specified in the consent as the effective date of the revocation. What is the effective date of the revocation? How would that change, if at all, if the consent to revoke was filed a week later, on March 16?Brent is a very talented accountant with ambitions to become the general manager of his firm.The directors advise Brent that he will be promoted as soon as he obtains a Master of BusinessAdministration degree at his own expense. Brent spends a considerable sum of money and everyspare minute of his life studying and manages to finish the qualification within two years.Although the directors know about Brent’s graduation they appoint someone else as generalmanager.Explain whether Brent would succeed in a legal action based on promissory estoppelagainst the company. Use the IRAC method to answer the question.SECTION D Read the following extract and then answer the question belowA client is interested in setting up a business and does not know which form of business to use. He has been told that he can form a sole proprietorship, or partnership, or a limited liability company. He comes seeking for business advises on the advantages and disadvantages of a registered company. Make a comparison between a sole proprietorship, partnership, and a limited liability company.
- In a public company, management acts as agent for the board and shareholders to purse the objective of maximizing shareholder value. True or Fasle?Discuss the legal responsibilities and liabilities of directors and officers in a corporation. What fiduciary duties do they owe to the company and its shareholders? What are the potential legal consequences for breaching these duties?help
- How has Company law defined the scope and extent of a director’s duties?What is one of the primary roles that agency law plays in partnerships? Group of answer choices: A. Controls formation of the entity. B. Dictate how the partners can operate the business. C. Whether or not a partner can bind the partnership to obligations or liabilities. D. Dictates what the operating agreement must state..Do corporate shareholders have an obligation to make certain that their business corporation acts in an ethical and proper manner in conducting business