BUS2 365 Lecture Notes - Lecture 4: Wield, Conflict Resolution
5 Mar 2018
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Document Summary
The nature of the corporation (a) the constitution of the corporation. Sources and function of the corporate constitution: constituents and outsiders, resolving conflicts amongst constituents, types of corporate constitution. Sources: founding documents: statutes, other documents, by-laws generated by directors of a company and ratified by shareholders, unanimous shareholder agreement. For what are they accountable: usually, the possession of legal power justifies legal accountability within the corporation. The constitution isn"t so expansive on this point. Rather, general legal principles inform us here (i. e. general tort law, k law) and that is what delineates liability for them. Corporate constitutions govern the internal affair of the corporation, including relationships amongst constituents: outsiders, the general public, nature of the relationship: indirect (econ) power over corporations but generally out- resourced and so weak leverage. Their rights are governed by k: complications, employees can be given participatory rights (ie alberta gives some seats on the board; germany employee representation is mandatory)
