Dan Is a Director of a Corporation, and Without Disclosing

question 51

Essay

Dan is a director of a corporation, and without disclosing his conflict of interest, entered into a contract to supply the corporation with widgets. The contract was made in the name of his mother so that the corporation would not know that Dan was involved. Pat is a minority shareholder in the corporation, has found out about the conflict, and intends to bring a derivative action against Dan. Explain what a derivative action is. Why is a derivative action appropriate in the circumstances? What must Pat show in order to bring a derivative action? What remedy might a court award?

Distinguish between various types of computer crimes and their costs to businesses.

Learn about protective measures consumers can take to secure personal and financial information.

Understand the legal protections like patents and copyrights and their durations.

Recognize different forms of malware and their methods of attack.

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Definitions:

Market System

An economic system where prices are determined by the interaction of supply and demand, guiding the allocation of resources and goods.

Inflation

A rise in the general level of prices in an economy; an increase in an economy’s price level.

Legal Tender

Any form of currency that by law must be accepted by creditors (lenders) for the settlement of a financial debt; a nation’s official currency is legal tender within its own borders.

Political Candidates

Individuals who run for office in governmental elections, seeking to hold a position within a government body.