BLAW20001 Lecture Notes - Lecture 1: Director X, Pricewaterhousecoopers, Current Liability
7 Sep 2018
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Document Summary
Were a director or o cer of a company in the company"s circumstances; and. Occupied the o ce held by, and had the same responsibilities within the company as, the director or o cer: in more simple terms: the standard required of director x is the care that. Standards of care: minimum standards of care, skill and diligence: Daniels v awa ltd: every director must: Obtain a basic understanding of their company"s business and be familiar with the fundamentals of the company"s business. Keep informed about and monitor the company"s activities. Regularly attend board meetings to generally monitor the company"s a airs. Any other person: delegate must exercise the powers in accordance with the directions of the directors, exercise of the power by the delegate is as e ective as of the directors had exercised it. Directors can be personally liable for the exercise of power by a delegate in a negligent way.
