COMM231 Chapter 16: Chapter-16-the-corporate-form-operational (1)
14 Feb 2016
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Document Summary
The chapter brings together various concepts already studied, including contract, tort and agency law, and fiduciary duties, and shows how they create liability for corporations. Also discussed are the duties and liabilities of directors and officers, and the rights and liabilities of shareholders. Particularly important to understand in your future lives as professionals are: The various types of liability that can attach to a corporation, including in tort and contract, and criminal liability, and how each arise. The policy reasons for holding/not holding corporations criminally liable. The many specific duties of directors and officers, which flow from two broad duties namely the fiduciary duty and the duty of competence. Liabilities of directors and officers, including personal liability (e. g. for environmental offences), and how to minimize liability when carrying out duties. Not the bce case discussed at page 389-390. The concept of piercing or lifting the corporate veil.
