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CLAW2201 Final Full Notes

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This note sets out the specific procedures of answering the director's duty questions.

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17 Pages Complete Study Notes < 1 Year old
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CLAW2201 Final Full Notes
Topics this document covers:
Law United Kingdom company law Economy Business Business law Corporate law Equity Corporate governance Fiduciary Interest of the company Board of directors Aberdeen Rly Co v Blaikie Bros
This is a Complete Set of Study Notes

Complete Study Notes typically cover at least half a semester’s content or several topics in greater depth. They are typically greater than 20 pages in length and go into more detail when covering topics.

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Topics this document covers:
Law United Kingdom company law Economy Business Business law Corporate law Equity Corporate governance Fiduciary Interest of the company Board of directors Aberdeen Rly Co v Blaikie Bros
Sample Text:
thing was done › Duty to use reasonable care and diligence (when exercise powers/discharge duties) Source: › General Law: Tort of negligence and equitable duty of care director in breach if: director owes duty to exercise reasonable care=> duty is breached=> breach causes loss or damage to company=> and loss or damage not too remote for recovery › Statute: s180(1) director/officer must use reasonable care and diligence that a reasonable person would use if: (a) director/officer in corporation’s circumstances, and (b) occupied same office& same responsibility › Both forms of duty have the same substance: ASIC v Vines Elements - Bell Group Ltd v Westpac (No 9): › Subjective element o Company circumstances: type of company, size and nature of enterprise, composition of board, distribution of responsibilities between board and others: Commonwealth bank v Frie...
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