Tuesday, November 15, 2005

Legal Illustrations 2 - Business Organizations

I should be writing about Tribunal Accountability somewhere else, so no fascinating observations or brilliant new inventions today. Only a couple of legal illustrations available to you under a noncommercial use with attribution Creative Commons licence. Business Organizations Future corporate lawyers, you'll also want to check this page. Cook v. Deeks [1916] 1 A.C. 554 (P.C.) The case where the directors took a railway construction contract for themselves: Where a corporation is actively negotiating for an opportunity and has a reasonable prospect of getting it, the corporation has an interest in the opportunity and a fiduciary is prohibited from exploiting it in her personal capacity.] Peso Silver Mines Ltd. v. Cropper (1965), 56 D.L.R. (2d) 117 Mr. Cropper takes mining claims after Peso turns them down: Fiduciary Duty breached if Director a) had access to the opportunity only because of position and, b) took advantage through some action in capacity as director. [Of course, this picture is good for any case where somebody buys a mine. Or you could photoshop the sign and put the name of a famous mine there, like the one in that big constructive trust case.]

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