Salesco Limited V Lese Case Summary

Chapter 10, Case 2, p 343: Ocean City Realty v A&M Holdings;
In general, the agents’ main duty is to delegate his or her services for the interest of laid principles hence accountable for actions made. Forbes had been fired by the A&M holdings for the agent role responsible in selling a building and thus no commission was ought to be paid by the A&M holdings. Reasons behind this are as follows;
• Forbes owes fiduciary duty to the A&M holdings as an agent.
• Forbes cannot toil for personal benefit gains as any attempts not to disclose information might lead to loss of their personal benefits.
• Any details ought to be conversed to the principal.

Chapter 11, Case 5, p 380: Salesco Limited v Lee Paige;
By definition, derivative action entails

• M is a director of the Spray Pak.
Paige undertook mismanagement, he drafts a personal cheque for a down payment of his own personal property. This act is a breach of the fiduciary duty since he is using an organizational property to fund his own personal gains and hence misusing is position as a director to the company for gains he could not have gotten given that he was not in such a position.

Chapter 12, Case 2, p 427: Evans v Teamsters Local Union No

This request is given as a notification to secured leasers who are likely to be unfavourably influenced and there is a need towards secured lenders first as well. Also, CCRA being a secured bank has its rights to get installments under the requirements to pay. On the other hand, the Bank of Montreal acting as the trustee can’t get any assets since Vita Pharm has no residual right in the money. Upon receiving the requirement to settle the payment the assets are turned into the property of Her Majesty. Although the security existed this did not secure the