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Business Law - Coggle Diagram
Business Law
corporations
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business judgement rules: rebuttable presumtion that directors are honest, well-meaning, and acting through informed decisions
Conflict of Interest: inherent when director has a personal or financial interest in the transaction
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Fundamental Corp Change: define when it is attempted; sale of all or substantially all of the corps. assets. Then go through each step to be sure all procedures were followed.
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Agency
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Contracts: same as Torts
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3rd party v. agent
disclosed principal? fully disclosed, agent not liable; undisclosed, agent is personally liable in K; partially disclosed, agent is personally liable in K (when 3rd party finds identity of principal, 3rd party can choose who b/w agent or pricipal)
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