Business Law Unit 2 Review

Business Law Unit 2 Review - Business Law Unit 2 Review...

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Business Law Unit 2 Review Lecture Business Judgement Rule o Standard that officers and directors are held to, have to exercise good business judgement with the shareholder’s money. Corporate Structure o Shareholder’s own business, they elect directors to run the business, directors appoint operators who report to them. Equitable remedies for a breach of contract o Something other than an award of money, money awards are called legal remedies, i.e. someone ordered to do something by court (injunction) Substantial performance doctrine o Substantial performance of contract. If I’m obligated to do something under a contract, and I don’t complete this I have not substantially completed the contract, if the person hasn’t it’s a material breach and they don’t get paid. Implied authority o Authority, not specifically given by the principal, but is customarily associated with the job. If the word customarily appears in the question, this tends to reference implied authority. Trademark Law
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This note was uploaded on 10/13/2011 for the course WCOB 1012 taught by Professor Norwood during the Spring '08 term at Arkansas.

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