ipl-logo

Salesco Limited V Lese Case Summary

797 Words4 Pages

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 …show more content…

• 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 …show more content…

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

Show More
Related
900 Words | 4 Pages

In Greene’s Case, they had Ms. Lawson sign a confidentiality agreement that was disregarded by the defendant. Although the accused became distraught with the loss of her position, it was wrong to relay the information regarding ever-gold to a competitor. c) Facts to be

Read More
1293 Words | 6 Pages

The breach of fiduciary duty commonly includes three elements: (1) the existence of a duty arising from a fiduciary duty; (2) a failure to observe the duty; and (3) an injury resulting proximately from the breach. Id. The fiduciary duty commenced when (a) Topcat and Tripper signed their representation contract. Topcat failed to observe the duty when he did not disclose his stake in AND1, as well as, (b) when he forced Tripper, who was just out of a grueling training session, to sign the endorsement contract with AND1, which Topcat knew contained poor “must wear” and Morals clauses. In Hernandez v. Childres, where agent received a commission for pushing his clients to invest in a tax shelter, the court found a breach of fiduciary duty because the agent failed to disclose his financial interest in the tax shelters to his clients.

Read More
700 Words | 3 Pages

Indeed, had Respondents’ conduct comported with their representations, Appellants would have a straightforward claim against DPR to foreclose on their collateral under the Commercial Code. However, Respondents’ conduct has forced Appellants to seek redress against RQ Inc., RQ LLC, and DPR in tort and under the theory of successor

Read More
513 Words | 3 Pages

The other legal precedents that were considered by the court to reach to the decision are (i) Ductline Pty Ltd v Arcric Investments Pty Ltd (1995) 32 IPR 419 (ii) Pennant Hills Restaurants Pty Ltd v Barrell Insurance Pty Ltd (1981)145 CLR 625 (iii)Ebrahimi v Westbourne Galleries Ltd (1973) AC 360. The case of Phillips v Lamdin (1949)2 KB 33 was cited by the judge. It relied on the concept of the fiduciary duty of the directors as outlined in the Corporations Act. The court observed that the first defendant had fiduciary duties towards the plaintiffs and the duty not to benefit self at the cost or expense of other partners, the beneficiaries of the company or the company itself is included in the fiduciary duty. It was observed by the court that there was another breach of fiduciary duty by the first defendant towards the first plaintiff when he locked him out of the premises Final decision of the court:

Read More
993 Words | 4 Pages

Not

Read More
820 Words | 4 Pages

Not

Read More
383 Words | 2 Pages

Not

Read More
456 Words | 2 Pages

The case Liebeck v. McDonald’s has been a widespread tort case for its outrageous compensatory damages after, the plaintiff spilled coffee in her inner legs causing a third-degree burn. Based on actual facts, the plaintiff, 79 years old Stella Liebeck, ordered a coffee at a McDonald’s drive-thru in Albuquerque. With the vehicle parked, the plaintiff opened the Stylophone cup to add creams and sugars consequently, spilling coffee in her lap. The plaintiff’s grandson rushed Mrs. Liebeck to the hospital, leaving the plaintiff for a week hospitalized with six percent of her body, including her inner thighs, perineum, buttocks, genital, and groin areas burned to a third-degree. However, the plaintiff medical bills ended up with a total of $10,000 dollars.

Read More
729 Words | 3 Pages

The good influence of firm must leave the greater effect on the business market enhancement, good communal reputation, and good monetary profit for workers. The director’s duties under act 2006 also involve utilization of independent judgment, nominee director’s appointment, obligation related to skills and care, no individual unrevealed profits or conflict avoidance, and disclosure of interest for company purpose. In Enron chief director did not perform his duties and therefore face duty breaches. The functions and behaves of company directors were so wrong and inappropriate in financial terms but it was difficult to prove this offensive intention. In most of the cases, the director does wrong and then sued by board

Read More
1249 Words | 5 Pages

Alex should argue the Fiduciary rule to apply to his case because under the rule it states, brokers “have a duty of loyalty, trust, confidence and prudence in investing on behalf of their clients.” The broker is obligated to discuss with the

Read More
380 Words | 2 Pages

I. Issue- Will Kesler be liable to repay City Rental restitution for the pilfered funds he received from Bauer? II. Rule: A holder in due course states that anyone who takes an instrument for value in good faith absent any notice that it is overdue, has been dishonored, or is subject to any defense against it or claims to it by any other person. III.

Read More
1233 Words | 5 Pages

Not

Read More
364 Words | 2 Pages

no

Read More
1584 Words | 7 Pages

Newman’s tentative discussion of potential future work did not change that dynamic. The facts of Glynn’s complaint describe the arms-length negotiation of a contract, not a fiduciary relationship. Newman and Facepunch did not owe Glynn any fiduciary duty. As a result, dismissal of Glynn’s claim for breach of fiduciary duties is

Read More
312 Words | 2 Pages

No

Read More

More about Salesco Limited V Lese Case Summary

Open Document