Legal Issues: Contract & Agency Law
Assignment due Thursday, May 18, 2023. Within the Discussion Board area, write 200–250 words that respond to the following questions: his week you will learn about fiduciary duty. Fiduciary duty is the legal obligation of one person or party to act in the best interest of another person or party. A common example of fiduciary duty is when top management of an organization is acting in the best interest of the shareholders who own the organization.
Charles is the CEO of a car company. Charles knows that the car has a defect and should be recalled. If Charles recalls the car the company will go bankrupt. Does Charles have a fiduciary duty to tell the car company’s shareholders? Why or why not?
Answer Preview
APA Format, 303 words