MANDATE Mandate =Representation; Many types of mandate; lawyer; corporate directors; Mandate=Agency Mandator=principal Mandatary=Agent 2130 C.C.Q. Definition Mandator: Grants powers to represent him; Mandatary: Receives power to represent; Must accept the powers and then must exercise the functions or duties Power of attorney: Refers to the document or the power itself 2131 C.C.Q. May have different objectives Accomplishment of an act: i.e. sign a document or transaction on behalf
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QUESTION: In ASIC v Healey [2011] FCA 717 at [14] Middleton J stated: A director is an essential component of corporate governance. Each director is placed at the apex of the structure of director and management of a company. The higher the office held by a person, the greater the responsibility that falls on him or her. The role of a director is significant as their actions may have a profound effect on the community, and not just shareholders, employees and creditors. Under the Corporations
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well organized. There were abuses of power breach of directors’ fiduciary duties in the business itself. The definition of fiduciary duty is a legal obligation of one party to act in the best interest of another. The obligated party is typically a fiduciary that is someone entrusted with the care of money and property.. In this case, there are abuses of power by management and breach of fiduciary on the part of directors. A fiduciary obligation exists whenever the relationship with the client involves
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and has rx accepted ii. (Notes….Legal Consequences of Agency) 1. Inward Looking Consequences: relate to the relationship between the principal and the agent and are largely governed by the contracts between the parties and by the law of fiduciary duties 2. Outward Looking Consequences: relates to the relationship among the principal, the agent, and a third party and are governed by various “principles of attribution” (authority….actual/apparent) 1. Tend to be the primary focus where central issue
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Introduction In acting as advisors for the Pilot’s Association Australia and Airlines Union Australia, we seek to explore the legality of the various actions of the Jetair Ltd.’s Board of Directors which ultimately lead to the hiring of a new staff body in New Zealand by JetairNZ Ltd at a lowered salary and the subsequent redundancy of Jetair Ltd.’s Australian-based senior managers and pilots. The outcomes sought by the various employee associations seek for firstly, the imposition of the Australian-based
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persons with information disclosure obligations, to strengthen the administration of information disclosure affairs and to protect the lawful rights and interests of investors. Article 2: Persons with information disclosure obligations shall disclose information truthfully, accurately, completely and timely and there shall be no falsehood, misleading representation or major omission. Persons with information disclosure obligations shall make public information disclosure
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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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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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MEDIA REPORT ANALYSIS [1702 words] 1. Identify areas of law addressed in the chosen media report, and explain how they are relevant to the matters outlined in the report. This chosen article reports on the prosecution of the directors of a medical practice company called Medical Centre 2000 at Liverpool in Sydney for discriminating against a visually-impaired employee and underpaying her more than $20,000 for about 3 years. Civil Law Civil law can be illustrated in this case when workplace
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Why Depreciate Fixed Assets? Fixed assets are items that a company purchases for long term use in the business. Vehicles, machinery, equipment, furniture, land, etc. are some examples of fixed assets. The article discusses the rationale behind calculating depreciation of fixed assets. Depreciation of Fixed Assets Fixed assets must be revalued regularly to ensure that the right cost is included in the accounting books. Depreciation is very much necessary for fixed assets because the fixed asset would
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