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Utilize the knowledge you have gained to respond to the following essay questions. Your answers should state your position and use logical arguments and content from this and other chapters in the textbook to support it.
-The textbook says that when power gets out of balance, other forces are brought to bear so that balance is restored. Name some of the other forces that are used to balance business power. Describe how effective each of those other forces is in combating business power.
Duty of Segregation
An obligation to keep different tasks and responsibilities separate to reduce conflicts of interest or the risk of fraud or error.
Fiduciary Duty
A legal obligation of one party to act in the best interest of another when entrusted with care of money, property, or confidential information.
Actual Authority
The express and implied powers a principal intentionally grants to an agent, allowing them to act on the principal's behalf.
Duty of Loyalty
A legal obligation of individuals, such as directors of a company or trustees, to act in the best interests of the company or trust, over and above their own interests.
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