1887

n South African Law Journal - : Fiduciary duties of resigning directors : notes

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Abstract

It is a well-entrenched principle of corporate law that a director has a fiduciary duty not to make a secret profit out of his trust, and generally must not place himself in a position in which his duty and self-interest may conflict ( (1854) 2 Eq Rep 12 461; [1967] 2 AC 134 (HL); 1921AD 168; 2004 (3) SA 465 (SCA); [2003] 2 BCLC 241 (CA); MS Blackman, R D Jooste, G K Everingham, M Larkin, C H Rademeyer & J L Yeats Commentary on the Companies Act Volume 2 (2008) 8-30). This broader principle may be subdivided into two categories, namely the corporate opportunity rule and the no-profit rule.

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/content/ju_salj/126/1/EJC53860
2009-01-01
2016-12-05
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