Binding the Corporation - Wake Forest Student, Faculty and 结合公司-威克森林大学的学生，教师和.pptVIP

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2018-06-24 发布于四川
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Binding the Corporation - Wake Forest Student, Faculty and 结合公司-威克森林大学的学生，教师和.ppt

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Binding the Corporation - Wake Forest Student, Faculty and 结合公司-威克森林大学的学生，教师和

* * * * * * * * * Mintues have lots of prblems: Who was present at meeting? How many directors on board? Was quorum present throughout? Secretary realy dan’t come to legal conclusions – should be factual: who present, present when decided, how was notice waived? * * * * Chapter 8 Actions Binding the Corporation Corporations: A Contemporary Approach Chapter 8 Actions Binding the Corporation Slide * of 23 Chapter 8Actions Binding the Corporation When is corporation bound Actual authority Apparent authority Inherent authority Ascertaining corporate authority Board: meeting rule Corporate resolution / certificate of corporate secretary Opinion letters Module III – Corporate Form Citizen of world Law profession Corporate practice Bar exam Corporations: A Contemporary Approach Chapter 8 Actions Binding the Corporation Slide * of 23 “The Little Republic” William Blackstone English jurist (1723–80) Shareholders[ principals / electorate] Officers [executives / bureaucracy] (more agents) Board of Directors [legislative organ / agents] “Theory of Firm” Michael Jensen US economist (1939-) Agency theory … Corporations: A Contemporary Approach Chapter 8 Actions Binding the Corporation Slide * of 23 Allocation of Corporate Powers Shareholders Elect, remove directors Approve fundamental transactions Amend bylaws, pass resolutions Board of directors Exercise corporate powers Manage business and affairs Officers Described in bylaws / appointed by board Authority in bylaws or prescribed by board Corporations: A Contemporary Approach Chapter 8 Actions Binding the Corporation Slide * of 23 “Andrew, sell my horse Hopalong for $2000“ Agent authority ... Inherent authority Apparent Authority Actual Authority (implied) Actual Authority (express) Ratification “Nice sale, Andrew. Have you found other buyers?” “Mr. Jones, this is my trusted agent, Andrew, deal with him“ “Andrew, I’ve always trusted you. Run ?the stables for me. I didnt