Commons

Conflict of Interest Equitable principles for directors were developed from fiduciary duties applied to trustees through common law. A director has a fiduciary duty to ensure that no conflict of interest exists between him and the company. This common law principle “the no conflict rule” was established in Keech v Sandford.7 Upholding this, Lord Cranworth LC held in Aberdeen Railway Co v Blaikie Bros,8 “And it is a rule….no one....shall be allowed to enter into engagements in which he has, or

At the onset of our legal history there was no federal common law; consequently, the common law was received by the states and was applied in the federal court as altered, interpreted, or preserved by state courts. Morris L. Cohen, The Common Law in the American Legal System, p. 22 (Vol. 81:13, 1989). The Federal Constitution by implication imposed limitations on the common law, primarily through the first ten amendments. Id. The Declaration of Independence, Bill of Rights, and the Constitution

CHINESE UNIVERSITY OF HONG KONG School of Accountancy ACY 3151 D– Company Law Preserve The Common Law Derivative Action in Hong Kong Presented to Professor C.K. LOW Submitted by Tony BAI Dongyi; Ashley CHEN Xi; Ri REN Xinyu; Zoe ZHOU Beinan 30 April 2010 Abstract This paper is a response to the First Phase Companies Ordinance Rewrite Consultation Paper Question 7 whether we should abolish the common law derivative action (the CDA) currently retained by sec. 168BC (4) in the amended Companies

The rule of law in civil and common law traditions In both the common and civil law traditions the ordinary function of a court is adjudicative. Courts make findings on disputed questions of fact, identify and apply the relevant law to the facts as agreed by the parties or found by the court, consider the legal consequences and award appropriate remedies. Thus, a state that adheres to the principle of ‘rule of law’ provides legal certainty to it citizens, to plan their lives with less uncertainty

The test of not insignificant sets a higher standard of care than what was previously established under the common law. The legislative and judicial intentions of the not insignificant test appear to have placed more of an emphasis on individual circumstances and personal responsibility. Despite the advantages of establishing a uniform and harmonised statutory

what should not be done. It helps in protecting the rights of a person and property. People should beware of the rules and their rights to stay safe. There are 3 legal systems: adversarial, inquisitorial and jury system. Adversarial legal system (common law): The judgements of the past cases will be used for cases with similar facts if there is any dispute or confusion about the law. The judges have a right to make laws and the laws made by the higher courts should be followed by the lower court

“[A]t common law, there is no contribution among joint tort feasors, but that right is now given by statute.” Norfolk & P.B.L.R. Co. v. Parker, 152 Va. 484, 505 (1929). Currently, under Va. Code Ann. § 8.01-34, “[c]ontribution among wrongdoers may be enforced when the wrong results from negligence and involves no moral turpitude.” (emphases added). “The aforementioned code section gives a right of contribution only where the party damaged has a right of action against two or more parties for the

Question: The old common law on shameless indecency has undergone considerable revision in the light of Webster v. Dominick (2003 S.L.T. 975). a) With reference to cases, describe the law prior to 2003. The old common law crime of shameless indecency which is now referred to as public indecency went under considerable revision to become what it is today. Prior to 2003 the law was classified as shameless indecency. As Sarah Christie said in ‘An Introduction to Scots Criminal Law’, the definition

The common law system was established in England by the Normans and became known as “common law” as the old unwritten laws of England. Courtiers following a common law system are typically those that were former British colonies or protectorates, including the United States. Common system law is not always based on a written constitution or codified laws. The judges can create their own rules in the absence of appropriate written law. They also can adapt these rules to suit the circumstances of different

Tragedy of the Commons” written by Garret Hardin explains how the human population is degrading the environment. When Hardin refers to commons he is talking about a resource that is owned by no one and used by a group of people. Some examples of commons include the air we breathe, the water we drink, and the oceans we fish. The tragedy is that people don’t look at the bigger picture; the over use of commons for our own personal benefit leads to the destruction or extinction of these commons. For example