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Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term.
Charles Townshend, Revenue Act of 1767 (Townshend Duties)
Duty of Obedience
The obligation of an organization's directors, officers, and agents to follow the organization's mission, abide by its rules, and ensure its activities comply with legal and ethical standards.
Apparent Authority
The appearance or implication of an individual's authority to act on behalf of an organization, leading others to reasonably believe in the legitimacy of the actions.
Fiduciary Duty
A legal obligation of one party to act in the best interest of another. Typically, a fiduciary is responsible for managing the assets of another person or of a group of people.
Secret Profit
Financial gain obtained secretly and unethically as a result of one's position or through the exploitation of confidential information.
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