[ENV100H1] - Final Exam Guide - Ultimate 32 pages long Study Guide!

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ENV100H1 Full Course Notes
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ENV100H1 Full Course Notes
Verified Note
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Document Summary

Theory of relativity as an example of a paradigm shift changed the way the world is seen. Decisions taken by the board are expected to maximize sha(cid:396)e (cid:448)alue. (cid:863) (cid:862)the leadi(cid:374)g up(cid:396)e(cid:373)e cou(cid:396)t of ca(cid:374)ada (cid:396)uli(cid:374)g o(cid:374) the fidu(cid:272)ia(cid:396)(cid:455) dut(cid:455) of directors, peoples department. Stores inc. (trustee of) v. wise has done little to clarify whether corporate directors owe duties to outside stakeholde(cid:396)s. (cid:863) Start with a group of people who want to invest their money in a company -> these people apply for a charter as a corporation -> corporation operates legally as an individual person (not a group of people) A corporation has the same legal rights as a person > it can buy and sell property, borrow money, sue in court. Corporations are persons with no moral conscience: corporations are designed to be only concerned about their stockholders (ex: community, work force)