English Question

 

Tam Vo

Reflection and Discussion Forum Week 6 Attachment

COLLAPSE

Reflection and Discussion Forum Week 6

Tam Vo

University of the Cumberlands

Discuss potential liability a principle may have to third parties based on the actions of an agent. What factors may limit this liability?

The agency relationship is an agent, legally authorized, act on behalf of a principal for a specific purpose. For example, Mary wants to buy a house and appoints Peter as her agent to act on her behalf in buying a house. In this case, Mary is the principal and Peter is the agent.

The principle appoints the agent in a contract, the principle will be liable for the contract. The principle will be liable if the agent reveals the identity of the principle. The agent will not hold the liable. The principle and agent both will be liable if the agent reveals partly information/identify of the principle or mentions that he/she is representing for another. The principle will not liable if the agent does not reveal the identity of the principle. But the principle can be liable later if the agent reveals the identity of the principle later.

There are two principal tort liabilities, direct liability and vicarious liability. Direct liability is the principle that tells the agent to commit a tort or is aware of the consequences of the tort to others. In this case, the principle will hold accountable for the tort. Vicarious liability is the principle that holds the full or part of the responsibility for an act of his/her agent.

What general rights do shareholders hold in a corporation? How do these rights vary, if at all, based on different classes of stock?

Common shareholders have six rights in the corporation that own shares, which are ownership, dividends, voting power, selling their shares, inspecting the corporation’s documents, and suing for wrongful acts.

Corporations usually have two types of stocks, common shares, and preferred stock. Shareholders own preferred stocks do not have the right to vote. Stakeholders may have shares that are divided into class A and B. Class B have fewer voting rights than class A.

Explain the difference in a corporate merger and a corporate consolidation, and include in your analysis supporting examples.

A corporate merger is two or more corporations mutually form one entity. There are five different types of merger, vertical, horizontal, conglomerate, product extension, and market extension. For example, Facebook acquired Instagram.

Corporate consolidation is two or more corporations combine and become a new venture/business, which has a new structure, culture, and adopt their best former practices. For example, Thermo Electron and Fisher Scientific merge to create a company named Thermo Fisher Scientific.

References

Marianne M. Jennings. (2021). Business: Its Legal, Ethical, and Global Environment. Cengage Learning.

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