Question

Alec is an officer and director of Baldwin Properties, Inc. Alec’s primary responsibility is to find...

Alec is an officer and director of Baldwin Properties, Inc. Alec’s primary responsibility is to find and purchase real property for development by the corporation. While on a business trip, paid for by Baldwin Properties, Alec found a property for sale at a very reasonable price and bought him for himself. Did he do anything wrong?

Homework Answers

Answer #1

Yes, he did this wrong, found that he was on a business trip and got out to found a property, if it was his personal trip, he could buy this property for himself, and before it was a business trip and had to buy it for his company and had to meet his company and had to take Suggestions, he did not even buy property without thinking about the company, So Alec did wrong here. Because the officer and the director of Baldwin properties and his primary responsibility is that he found a property for company not for himself. Because he is an business trip not a personal trip.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
are this correct? or did i got one wrong? 1. A party can accept an offer...
are this correct? or did i got one wrong? 1. A party can accept an offer without actually signing anything. TRUE 2. Normally the acceptance of an offer cannot include any additional terms, but under Article 2 of the Uniform Commercial Code, a contract is formed even if the acceptance includes additional terms. TRUE 3,. Abner is in negotiations with Tara to purchase Tara's hamburger stand. "Wow!" says Abner. "This is a really great price! There's nothing wrong with the...
Questions 30 through 32 are based on the following: Moe, the chief executive officer and sole...
Questions 30 through 32 are based on the following: Moe, the chief executive officer and sole shareholder of the Nacho Corporation, was interested in being more socially responsible now that the corporation was established and making substantial profits. In April 2015, an earthquake caused tremendous loss of life and property damage in Nepal. Several of the corporation’s employees had relatives who were personally impacted by the typhoon and they spent many hours in Moe’s office asking if there was anything...
BLADES, INC. CASE Assessment of Exchange Rate Exposure Blades, Inc., is currently exporting roller blades to...
BLADES, INC. CASE Assessment of Exchange Rate Exposure Blades, Inc., is currently exporting roller blades to Thailand and importing certain components needed to manufacture roller blades from that country. Under a fixed contractual agreement, Blades' primary customer in Thailand has committed itself to purchase 180,000 pairs of roller blades annually at a fixed price of 4,594 Thai baht (THB) per pair. Blades is importing rubber and plastic components from various suppliers in Thailand at a cost of approximately THB2,871 per...
Select the statement that is untrue. The following factors in ASIC v Adler were taken into...
Select the statement that is untrue. The following factors in ASIC v Adler were taken into account when the court disqualified him as a director: a.Loss suffered by the shareholders. b.Dishonest conduct; c.Abuse of trust; d.His negotiation skills as a director; e.Loss suffered by the company; 1 points   QUESTION 2 Select the statement that is untrue. Remedies for breach of fiduciary duty are: a.Recission of contract. b.Constructive trust; c.Account for profits; d.Equitable compensation; e.Dejunction; 1 points   QUESTION 3 Are directors...
Moville is a small island in the eastern Caribbean which has a population of approximately 6,500...
Moville is a small island in the eastern Caribbean which has a population of approximately 6,500 persons and only one bank, the National Bank of Moville (“NBM”). NBM is experiencing some legal woes with the Kardashka family. The Chairman of the Board of Directors of NBM and head of the Kardashka family is Robert Kardashka, a self-made billionaire who owns two of the four hotels in Moville. Robert does not have a university degree and has no experience in the...
what is the issue in Emaar case study ? (10marks) Emaar Properties specializes in creating value-added,...
what is the issue in Emaar case study ? (10marks) Emaar Properties specializes in creating value-added, master-planned communities that meet the full spectrum of lifestyle needs. Highlights include Downtown Dubai, the 500-acre mega-project including Burj Khalifa – the world’s tallest building, and The Dubai Mall—the world’s largest shopping and entertainment destination. Emaar is extending its expertise in developing master-planned communities internationally, and has established operations in the United Arab Emirates, Saudi Arabia, Syria, Jordan, Lebanon, Egypt, Morocco, India, Pakistan, Turkey,...
Background: As a salesperson for Candoo Computer Corporation (CCC), you have just received a call from...
Background: As a salesperson for Candoo Computer Corporation (CCC), you have just received a call from your regional manager regarding a program now underway at one of your key accounts, Farmland Companies. Farmland is a national insurance company with agency offices spread across the United States. The company is in the early stages of designing and specifying a computer system that will place a computer in each agency office. The system will allow each agency to develop, operate, and maintain...
About John Daniels Chemicals Inc. This business case is about John Daniels Chemicals Inc., which is...
About John Daniels Chemicals Inc. This business case is about John Daniels Chemicals Inc., which is one the most respected and elite chemical research organization in the industry, operating since 1991, with the headquarters in Tanzania, Africa. Organizational Structure and Culture at John Daniels Chemicals Inc. Organizational culture in John Daniels Chemicals Inc. is an open and less rigid one, unlike the other usual corporations in the market. The scientists selected to work in John Daniels Chemicals Inc. are top...
Restructure, Outsource or Redesign? Choosing a strategic direction and evaluating the effectiveness of HR are only...
Restructure, Outsource or Redesign? Choosing a strategic direction and evaluating the effectiveness of HR are only the first steps in making an organization competitive in the global environment. The next step is figuring out how to improve human resources based on the strategy and issues that may have been raised during the evaluation process. The effectiveness of HRM can be improved in three main ways. First, a company may decide to restructure the HR function to increase its efficiency. Next,...
Chemalite, Inc. (B) Cash Flow Analysis Bennett Alexander, a chemical engineer, founded Chemalite, Inc. in late...
Chemalite, Inc. (B) Cash Flow Analysis Bennett Alexander, a chemical engineer, founded Chemalite, Inc. in late 2002. The company was set up to manufacture and sell his latest patented invention, the Chemalite. The first year of operations was successful, allowing Chemalite's directors to declare a $10,000 dividend at the end of 2004. Exhibit 1 presents the income statement and balance sheet for the year ended December 31, 2004. During the meeting with the company shareholders, held in January 2005, Alexander...