duty of loyalty

duty of loyalty
duty of loyalty see duty

Merriam-Webster’s Dictionary of Law. . 1996.

duty of loyalty
USA
A fiduciary duty that requires a director of a corporation to act and make decisions in the best interest of the corporation, and not in the director's own personal interest. The duty of loyalty is governed by state law. See also duty of care.
Related terms

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Игры ⚽ Поможем написать курсовую

Look at other dictionaries:

  • Duty of Loyalty — is a term used in corporate law to describe a fiduciary s loyalty to a corporation.Section 8.60 of Model Business Corporation Act states there is a conflict of interest when the director knows that at the time of a commitment that he or a related …   Wikipedia

  • Duty of loyalty — Companies law Company  …   Wikipedia

  • duty of care — see duty Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. duty of care …   Law dictionary

  • Loyalty — For other uses, see Loyalty (disambiguation). Loyalty is faithfulness or a devotion to a person, country, group, or cause (Philosophers disagree as to what things one can be loyal to. Some, as explained in more detail below, argue that one can be …   Wikipedia

  • Duty of confidentiality — Professional responsibility D …   Wikipedia

  • Duty of care (business associations) — Companies law Company  …   Wikipedia

  • duty — du·ty n pl du·ties [Anglo French deuté indebtedness, obligation, from deu owing, due, from Old French see due] 1: tasks, service, or functions that arise from one s position performing a police officer s duties; also: a period of being on duty… …   Law dictionary

  • Duty — • The definition of the term duty given by lexicographers is: something that is due , obligatory service ; something that one is bound to perform or to avoid Catholic Encyclopedia. Kevin Knight. 2006. Duty     Duty …   Catholic encyclopedia

  • Loyalty — Loy al*ty, n. [Cf. F. loyaut[ e]. See {Loyal}, and cf. {Legality}.] The state or quality of being loyal; fidelity to a superior, or to duty, love, etc. [1913 Webster] He had such loyalty to the king as the law required. Clarendon. [1913 Webster]… …   The Collaborative International Dictionary of English

  • duty — [n1] responsibility, assignment burden, business, calling, charge, chore, commission, commitment, committal, contract, devoir, dues, engagement, function, hook*, job, load, millstone*, minding the store*, mission, must, need, obligation,… …   New thesaurus

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”