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Essay / Research Paper Abstract
This 12 page paper looks at the duties and responsibilities of directors. The paper looks at the general responsibilities and then considers directors in a non-profit making organization, such as a charity, in more detail. The paper is written with reference to Canadian law, but many of the concepts are universal. The bibliography cites 10 sources.
Page Count:
12 pages (~225 words per page)
File: TS14_TEnotprodir.rtf
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Unformatted sample text from the term paper:
as evolving through common-law. Directors have several duties to a company. The directors should act in good faith, with proper purpose, and with unfettered discretion and have a duty to
loyalty they should also ensure they do not have a conflict of interests. This is a general QT which is placed on will directors of both profit, and not-for-profit organizations.
It may be argued that the majority of the future looks at the for profit organizations, but with many voluntary directors choosing to work in the voluntary sector, it is
increasingly important that they understand their duties in this less well understood and covered sector. In order to examine the duties and responsibilities of directors in the voluntary, or not-for-profit,
sector the first consideration should be of the general due to use of directors in organizations. Following the general and view the paper will look specifically at the not-for-profit sector,
which includes a voluntary sector, in order to ascertain the specific duties and responsibilities which may, or may not, be aligned with general duties. When acting in good faith is
essential that the director to bear in mind the importance of the best interests of the organization, these interests take priority over any personal, or individual interests (Rose, 2004). The
general due to good faith is contained within statute law. In Canada statutory fiduciary duty is codified under the Canada Business Corporations Act (CBCA). It is under section 122(1)(a) this
act of the directors duties are specified, stating that they need to act honestly and in good faith towards the corporation (Rose, 2004). This has been further clarified by the
Supreme Court where it has been stated that it is not necessary for directors in all cases to avoid the potential for personal gain either as a result of direct
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