What are the Potential Liability of Officers and Directors
What are the Potential Liability of Officers and Directors?
Expert
Officers and Directors may be liable for their actions in relation to the corporation under tort law, contract law, regulatory law, and criminal law. While some courts have held that Officers and Directors are not personally liable for tortuous actions as long as they were acting in “furtherance of their duties to the corporation and their conduct was justifiable,” recent Ontario case law seems “to suggest that Officers and Directors will almost always be dependable for their own tortuous conduct even if they were acting in the best interests of the corporation.”
Contract law generally puts Officers and Directors in the position of agents and makes the corporation liable to the third party. Directors may also face statutory penalties (including imprisonment) and fines for unpaid taxes as well as under environmental protection and other regulatory schemes.
Illustrate the three remedies of tenants?
Describe in brief about exceptions to Privity of Contract in respect of Interests in land, Constructive trust, Life insurance and undisclosed principal?
Illustrate the important reason for Passing of Property?
Illustrate Contract and the term Corporation?
What are the Common Writing Requirements?
What do you mean by Partnership Agreement?
What do you mean by Tender of Payment?
Illustrate what do you mean by Injunctions?
How breach of contract depends on Essential and Non-Essential Terms?
Describe Duress in your terms?
18,76,764
1945236 Asked
3,689
Active Tutors
1414031
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!