(1) The Obligations of the Debenture Holder for the Acts of the Receiver. The basic ground rules which govern receivership can be succinctly stated. Although a receiver may be appointed by a court following an application from the debenture holder, the standard form nature of the modern debenture ensures a clause entitling the debenture holder to appoint a receiver in certain specified circumstances. The primary function of the receiver so appointed is to realize the assets of the company which are comprised in the
* Mr. Jacobsen sued Nike Canada Ltd. AREAS OF LAW Employment Law Governed primarily by the general provisions of contract law, a contract of employment involves one person doing work for another. The work is performed as an independent contractor, an employee, or an agency. The Control Test determines if the employee is in a master-servant relationship, where the employee is controlled by the employer. This test was used in Samuda v. Recipco Corp. case, to determine employment. The contract of employment outlines the obligations of both the employee and employer.
Separating Theory from Practice Ashley Ingram Capella University What is principal-agent theory? The relationship between principal and agent involves an arrangement in which one entity legally appoints another to act on its behalf. In a principal-agent relationship, the agent acts on behalf of the principal and should not have a conflict of interest in carrying out the act. In public administration, principal-agent theory is practiced when outside agencies are contracted to perform a task that may be time consuming or too costly. The contracted agency is chosen because of their knowledge and expertise on a particular matter.
The contract that Gerald and Kids Care formed is a bilateral contract “promise for a promise” created by two parties, which may be enforceable and considered under the doctrine of promissory estoppel (also called detrimental reliance). The doctrine of promissory estoppel can help enforce a promissory contract in a court of law. The doctrine of promissory estoppel may be applied when problems concerning consideration are present. According to the Business Law (Miller & Hollowell, 2012) textbook, in order for the doctrine of promissory estoppel to be applied, a number of elements are required: 1.
I was given personal verbal instructions. What was the misunderstanding that occurred? I did not get the correct instructions of which account I was suppose to use, causing for us to pay for the shipping charges. How could the misunderstanding have been avoided? Should I request my manager to clarify his verbal instructions the mistake could have been avoided.
In this project the team reached an agreement to use the agency contract as a basis of this project. The nature of this contract is a relationship between two parties the first is the principal “Chevrolet” and the second party is the agent “Mansour Group” in case of our project. The principal agrees that the agent would act on his behalf, using some terms and conditions that both parties agree on to sell products. Termination of the contract and the actions that are considered a breach in the contract are also discussed and agreed upon from the beginning by both parties. Rights and obligations: According to the principle “Chevrolet” 1- Chevrolet is obliged to act loyally and in good faith with the Mansour group.
Leadership, Trustworthiness, and Ethical Stewardship Evelyn T. Robinson MGT7019-8 12/30/2012 Mentor Jane Ross Leadership, Trustworthiness, and Ethical Stewardship The problem to be investigated is: should leadership be based on trustworthiness and ethical stewardship? The Theoretical foundations and hypocrisies of ethical stewardship are trace to a code of professional laws laid down by professional scholars or executives of the corporation. Caldwell and Karri (2005, pp. 254) framed the role of the steward as an “integrator of shared interests” with a responsibility to help the organization and its members of self-actualize. Caldwell et al.
ELEMENTS OF WRONGFUL ACT/TORTIOUS ACT Vicarious liability is the process of holding a person accountable for the actions of another person. Often, the concept of vicarious liability applies to employer liability for the actions of their employees. There three elements of Vicarious Liability that need to be satisfy in order to apply this rule. The first one that the court will decide is whether there are any wrongful or tortious act that has been committed. Once a tort is identified, then the nature of relationship between defendant and tort feasor will be examined.
Although often the two types of secret trusts are dealt with together this creates some difficulties because they are so different even to the extent that they break different convention rules. Lord Viscount Sumner said in Blackwell v Blackwell [1929] that once the trustee agrees to the testator's intentions "the proposed donee encourages him to bequeath the money in the faith that his intentions will be carried out." The two types of secret trusts share some rules such that the secret trustee must accept the trust. This acceptance can be express or implied; Wallgrave v Tebbs [1972]. The secret trustee must be under a legally binding obligation, a purely moral one is inadequate; McCormack v Grogan.
This test was examined in the Carparo Industries Plc. v Dickman case. The defendant had an account audited that didn’t reflect a previous loss and debts in the bookkeeping records, instead, profits, putting the claimants in a belief that, the company in question is worth investing in. Afterwards, the claimants found out the audited account didn’t reflect exactly the true previous and current status of the company financial dilemma. Based on the principles of the three-part-fold, the House of Lords ruled against the claimant that: the defendant owes no duty of care to the claimant in such circumstances.