In a situation of conflict of interest, making a good decision requires all of the following except
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- If the directors of a company make a decision, which later on proves not to be a good decision and causes the company to lose money, will the directors be liable for failure to exercise their duty of care and diligence? (300 words)The case of L'Estrange v F Graucob Ltd: Select one: a. Is best known for the legal principles relating to privity of contract b. Is best known for the legal principles relating to conditions and warranties c. Is best known for the legal principles relating to incorporation of terms by signature d. Is best known for the legal principles relating to interpreting exemption clausesOxy Corp. is negotiating with Wick Construction Co. for the renovation of Oxy’s corporate headquarters. Wick, the owner of Wick Construction Co., is also one of the five members of Oxy’s board of directors. The contract terms are standard for this type of contract. Wick has previously informed two of the other directors of his interest in the construction company. Oxy’s board approves the contract by a three-to-two vote, with Wick voting with the majority. Question: Should the contract between Oxy Corp and Wick Construction corp. be set aside or is it binding? What would have been the proper way for Wick to conduct himself at the Oxy board meeting?
- You may have seen the very popular Broadway show or movie Les Misérables, based on Victor Hugo’s epic nineteenthcentury French novel of the same name. The main character, Jean Valjean, steals a loaf of bread to feed his sister’sstarving family and is arrested and sent to prison. If we apply conventional reasoning and principles of law to his crime,Valjean genuinely is guilty as charged and we do not need to consider any extenuating circumstances. However, in aKantian ethical framework, we would take into account Valjean’s motives as well as his duty to treat his sister’s family asends in themselves who deserve to live. Valjean’s fate demonstrates what might occur when there is a gap between thelegal and the moral. Clearly, Valjean broke the law by stealing the bread. However, he acted morally by correcting awrong and possibly saving human lives. According to Kantian ethics, Valjean may have been ethical in stealing bread forhis family, particularly because the action was grounded in…What was the correct interpretation of condition 4 in DTR Nominees Pty Ltd v Mona Homes Pty Ltd (1978) 138 CLR 423? Choose one of the following. A plan containing the 9 lots being sold should have already been lodged for registration at the time of contract. The plan attached to the contract containing 35 lots could be registered in 2 stages, so long as the plan already lodged at the time of contract contained the 9 lots being sold. The plan attached to the contract containing 35 lots should have already been lodged for registration at the time of contract. The plan attached to the contract containing 35 lots could be lodged within 14 days of the contract being signed.Amy is caring for her aging mother, Milly. Milly has a number of health issues. She has given Amy a power of attorney so that Amy can help pay her bills and handle her business affairs. Amy is concerned that Milly will eventually use up all her assets, including losing her house, to provide for her health care needs. To protect against that eventuality, Amy intends to use her power of attorney to put Milly’s house into Amy’s name. True or False: Amy’s transfer of the house is a breach of her fiduciary duty as Milly’s agent.
- Is it possible to be used partly for public purpose and partly private purpose without violating the limitation that a tax must be for public purpose?A. No, the purpose shall either be private or public. It cannot be bothB. Yes, The purpose is not important as long as the tax of the property can be accounted forC. No, the purpose to be accomplished by taxation need not be exclusively public. To benefit private individuals will be tantamount to deprivation of property of those who paid the tax without due processD. Yes, The purpose to be accomplished by taxation need not be exclusively public. Although private individuals are directly benefited such as the victims of flood victims, the tax will be valid provided such benefit is only incidentalWith respect to the doctrine on Consideration, Past Consideration is ‘irrelevant’ Discuss this statement, with the following requirements;1. Three (3) applicable case laws on the subject matter2. Clearly state: The issue, Basic facts of the Cases, The Judgement