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The differential equation is is
Utmost Good Faith
A duty to act in the best interests of another; such duty may arise between directors and officers and the corporation they serve, between business associates including senior employees and their employer, between agents and their principals, and between partners; also called fiduciary duty.
Common Law
A system of law based on precedent and customs, originating in England and used in countries that were once part of or influenced by the British Empire.
Limited Liability
A legal principle where an investor's financial liability is limited to a fixed sum, mostly the value of an individual's investment in a company or partnership.
Sole Proprietor
A business owned and operated by a single individual, without a legal distinction between the owner and the business.
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