Fiduciary Duties

Feb 3rd, 2012
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Write a short essay, between 400 and 500 words, responding to the assignment below. You are expected to use the textbook and outside resources to provide accurate and substantive answers to the question. Also, be sure to make use of illustrating examples where appropriate. Submit your work in APA format. Jimmy is the CEO of News Corp. His son, Johnny, runs Television Inc. One day Jimmy suggests that Johnny sell Television Inc. to News Corp. Jimmy and Johnny work together to radically inflate the value of Television Inc. Jimmy brings a proposal to the Board of Directors to buy Television Inc. for $500 million dollars even though the corporation is only worth $2 million. The board of directors diligently examines the transaction, but due to clever forgeries, the board does not discover the radical inflation of the corporation. Jimmy never discloses his relationship with Johnny. The sale goes through, and it is shortly discovered that Television Inc., is practically worthless.

Word Count: 611
Showing Page: 1/4
Title of paperStudent's nameCourse name and numberInstructor's nameDate submittedFiducially ethics entails a trust between two or more parties that can take care of money for other things. For example corporate trust is mandated to cater for group or company acts with an aim to safeguard fiduciary for safekeeping and investment purpose. For example mangers of pension plans purport applicable statues and legal process. A good relation between the worker and employer remits conscious relations to oversee justified and genuine matters which are sought in a strategic matter. Fiducially, everyone should act at all ties for sole benefit and interest of trustees or shareholders of a company. In short, the ethic occurs as an act for on behalf of others in particular circumstances that give rises to a relationship of trust and confidence. Its duty is to enhance standard of care at either equity or law. The standards are drawn in accordance to the person who owns the company. This means that there should be no conflict of duty between the fiduciary and the owner. Jimmy obligated his son to sell Television Inc at a loss in a condition that is not well understood. Televisio

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