Legal Issues: Contract & Agency Law
Primary Task Response: Within the Discussion Board area, write 400 to 600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas. In the Unit 1 Discussion Board, you analyzed a corporation’s social responsibility with regard to its customers. Not only do corporations have responsibly to their customers, but their corporate officers or directors owe fiduciary duties to their corporation and its stockholders. Corporate officers, such as a chief executive officer, president, chief financial officer, treasurer, corporate secretary, and so on are agents and carry out the daily operations of a corporation. You are Phishy Pharmaceuticals' CEO, and therefore an agent of Phishy Pharmaceuticals. This week you have learned agents have fiduciary duties they owe the corporation (principal)? Choose a fiduciary duty, and complete the following: Based on the first initial of your last name, complete the following steps: First initial A – L: Provide an argument as an agent (CEO) with a duty to the principle (Phishy) that supports the decision to leave the diet pill on the shelf.
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