Nobody downloaded yet

Answer to legal problem questions - Essay Example

Comments (0) Cite this document
Summary
Author 28 May 2015 CORPORATE LAW QUESTION 1 Facts/Issues: NatureWorld sued the auditor for failure to inform the Board of the company’s losses. The auditor counter-sues and alleges the Board failed its duty of care, skill and diligence and this contributed to the company’s losses…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93.7% of users find it useful
Answer to legal problem questions
Read TextPreview

Extract of sample "Answer to legal problem questions"

Download file to see previous pages The test for breach of duty of care was objective. S180 on the civil penalty provision (ASIC V Rich3) and damages (Deputy Commission on Taxation V Clark4) are the potential remedies for NatureWorld. Application: In the case at bar, DD, WW and SS, being directors of NatureWorld, must exercise care and diligence under Section 180, which states that a director or other officer of the corporation must exercise their powers and discharge their duties with the degree of care and diligence that a reasonable person would exercise. Here, all three executive directors failed to exercise the standard of care and diligence required under the law. In the case of AWA V Daniels5, the court decided to tighten-up the director’s duties in Australia and deviate from the old common law duty. While in the case of Daniels V. Anderson6 involving similar facts, Daniels counter-sued by alleging that the Board failed to discharge their duty of care and diligence. The Court held that auditors and executive directors are liable in negligence since they had no mechanism in place allowing the directors to monitor the audit which contributed to failure to report the irregularities. Further, it ruled that the test for the breach of duty of care was objective. ...
While the case of Clark9 held that there is a “core, irreducible requirement” of involvement among directors in the management of the corporation which prohibits “sleeping or passive directors”. Applying these cases, the suit filed by the auditor against DD, WW and SS shall prosper for failure to exercise the standard of care and diligence required under S180. Their negligence caused damage to NatureWorld for failure to monitor the financial condition of the company and to conduct a “general monitoring” of the company’s affairs. Remedies: The Corporation should file a case against the auditor, DD, WW and SS, as executive directors for breaching the standard of care and diligence required under S180, which provides a civil liability provision, for the damage incurred by the corporation brought about by such breach. QUESTION 2 Facts/Issues: One of the employees of the company, Noi Dea was negligent while conducting a tour, which caused serious injuries to one party, thus incurring medical expenses amounting to $330,000. Based on tort, the corporation is secondarily liable to the victim for the acts committed by its employee under the concept of “vicarious liability”. Law: NatureWorld is liable under the principle of corporate liability in tort, which a breach of a common law duty, or a statutory duty which results to an injury. This shall give rise to the civil right of the injured party to file an action for damages. In the decided case of Lord Grace V Smith10, Armagas Limited V Mundogas, S.A.11, and Bugge V Brown12, the Court ruled that employers are secondarily liable applying the “doctrine of agency” or “respondeat superior”, wherein the employer shall be liable for the acts of its employees or subordinates in ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Answer to legal problem questions Essay Example | Topics and Well Written Essays - 1250 words”, n.d.)
Retrieved from https://studentshare.org/law/1421984-answer-to-legal-problem-questions
(Answer to Legal Problem Questions Essay Example | Topics and Well Written Essays - 1250 Words)
https://studentshare.org/law/1421984-answer-to-legal-problem-questions.
“Answer to Legal Problem Questions Essay Example | Topics and Well Written Essays - 1250 Words”, n.d. https://studentshare.org/law/1421984-answer-to-legal-problem-questions.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Answer to legal problem questions

Intellectual property / copyright legal research

..." from electronic sources as you proceed. The problems to be used to complete the Research Records will be released on the LWB143 online teaching site. The pages of this research record are for you to document your learning of legal research. The amount of "blank space" on each page gives you an indication of the length of answer required to address each question. Remember it is "quality not quantity" that is important. An answer with three or four relevant textbooks is better that an answer with fifteen out of date and only minorly relevant text books. Attendance at tutorials is compulsory and will be considered in allocating your mark...
6 Pages(1500 words)Essay

Legal Questions

...Legal Questions and Section # of "Legal Questions" Ans The ACPA of 1999 grants acentralized foundation of action aligned with the ghastly belief registration or trafficking in domain names that are indistinguishable to or confusingly analogous to another's trade name or dilative of another's well-known brand name. (Hampton, 2007) The FTDA provides for injunctions and monetary remedies for the dilution of famous trademarks. In order for trademark dilution to take place, the FTDA states that the new trademark ought to be renowned and idiosyncratic. The FTDA additionally defines dilution as an exercise that adversely affects the ability of the trademark to be associated with...
11 Pages(2750 words)Essay

Legal Problem

...in legal terminology as “extreme carelessness regarding an obvious defect or problem.” (Stewart, Warner, Portman, 2008, p. 228) Now such acts of “extreme carelessness”, according to jurisprudential rational, incorporates intention of an individual to commit such act and such element of intentional commission of reckless act are specified in legal terminology as mens rea. Paul Bergman, Sara J. Berman, Sara J. Berman-Barrett explains mens rea as, “Mens rea is Latin for “guilty mind”. The mens rea concept expresses a belief that people should be punished … only when they have acted with an intent or purpose that makes them morally blameworthy.” (Bergman, Berman, Berman-Barrett, 2008, p....
3 Pages(750 words)Essay

Answer to legal problem questions

...September CORPORATE LAW QUESTION Facts/Issues: NatureWorld sued the auditor for failure to inform the Board of the company’s losses. The auditor counter-sues and alleges the Board failed its duty of care, skill and diligence and this contributed to the company’s losses. Law: AWA V Daniels1 imposed on directors stricter duties in the exercise of care, skill and diligence while in the performance of their responsibilities to the corporation: The case of Daniels V Anderson2 held that executive directors breached their duty, while non-executive directors did not commit breach of duty. The test for breach of duty of care was objective. S180 on the civil penalty provision (ASIC V Rich3) and damages (Deputy Commission on...
5 Pages(1250 words)Essay

Answer questions

... English Questions Should we use Acronyms/Abbreviations on writing? Chuck them? Does their use help or hinder a reader-centered document? If we use them, how would they be deployed? In English, it is important sometimes to use Acronyms/ Abbreviation in course of writing because they tend to make reading easier. Long words often create a boring atmosphere when one reads a given writing and hence may lose concentration of the general story line. In having the use of abbreviations tends to help in maintaining one’s concentration in the event of reading a given literature. Chucking Acronyms may not serve good justice to the readers. They therefore help in a reader-centered document. 2. For our cover pages: What will be our logo... English...
1 Pages(250 words)Assignment

Answer questions

...1. (i) Why have Japanese firms, once dominant in the electronics industry, fallen behind competitors such as Samsung, Apple, and Amazon? Japan, whichonce dominated the consumer electronics business, is now facing stiff competition from various other companies such as Apple, Google and Samsung. These companies have focused on easy-to-use software and integration with other online services, cashing on faster improvement and using smart marketing strategies in every country. The past fiscal year saw electronics giant Apple and Samsung take a 20% share in the Japanese market, the highest over the past years when there were no foreign products in market. Experts believe that Japanese manufactures failed to analyze the consumer... (i) Why have...
2 Pages(500 words)Admission/Application Essay

Answer questions

... Explain how Daimler AG used BI to improve its relationship with s. In order to increase its market competitiveness, Daimler AG has embarked on Business Intelligence. For once, BI enables the company to identify the different needs of not only their existing customers but potential ones as well. By so doing, the company is able to cater to the needs of a wide variety of the population; hence, increasing its customer base. The company has been focusing on what customers give value to and what they miss in the transport sector. This enables Daimler AG to find opportunities to become innovative. Therefore, through the use of BI, Daimler AG is able to relate better with its customers as it can tell their needs and attend to them... Explain how...
1 Pages(250 words)Book Report/Review

Answer Questions

... Lessons and work for project preparation Source one: Big Data Analytics Using Splunk The source provides lessons on thefundamental basis of big data and the different mechanisms in processing and analyzing data including Splunk. Various aspects including unstructured data characterize big data explained in the source, which is an important lesson in managing data. Although the source provides a number of alternative data processing techniques, the most important knowledge I expect to acquire from the book is the use of time-series indexer (Splunk) to monitor, audit active directory, report, and view events in a networking environment. Notably, Splunk development was meant for machine data, but can also be used to analyze big... Lessons and ...
1 Pages(250 words)Essay

Answer questions

...problem with "hiding mistakes"? (claim) According to Doctor David Hilfiker hiding mistake will eventually make the physician to be cut off from healing, there is no forgiveness received, and the physician become thwarted hindering growth. 6. Why is this a problem? (grounds) The ground as to why hiding mistakes is a problem is because the physicians will never get an opportunity to be forgiven and will live with the guilt of that mistake forever. 7. What are the different types of mistakes? Different types of mistakes include; I. Not knowing enough II. Lack of technical skill III. Simple carelessness IV. Failure of judgement 8. One of the main problems he believes is...
1 Pages(250 words)Essay

Answer questions

... Task The black women have been sidelined in the American society for quite some time, although they have made up the national agendas during elections. For instance, there are more women dying from laboring process and during the gestation period for the fact that the facilities and attention given to this person are minimal. The poor response to their needs has been attributed to the fact that they have a poor representation in the national major commissions that are responsible for acting on the issues (Siegel et al., Pg 15). Task 2 National mood National mood is a situation whereby the whole nation has a particular opinion on an issue or politician. The whole nation tends to have a similar opinion on issues and affects... Task The...
2 Pages(500 words)Admission/Application Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Answer to legal problem questions for FREE!

Contact Us