In the context of corporate law, discuss the following statement and explain the fiduciary… 1 answer below »
In the context of corporate law, discuss the following statement and explain the fiduciary concept in detail:
“Since the decision of the High Court in Hospital Products Ltd v United States Surgical Corporation[1984] HCA 64, it has been accepted in this country that a fiduciary duty arises out of an undertaking, express or implied, by the person incurring such duty.”[3]
(ii) Discussexamples that demonstrate this fiduciary concept in each of the following areas, referring to case law and statute as necessary:The general law (as it relates to the formation of a company);A Partnership Act (in an Australian State or Territory); ANDTheCorporations Act 2001 (Cth).
Total (50 marks)
