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Conflicts of interest have been described as the most pervasive issue facing modern lawyers. [4] Legal conflicts rules are at their core corollaries to a lawyer's two basic fiduciary duties: (1) the duty of loyalty and (2) the duty to preserve client confidences. [5]
Conflicts of interest increase the likelihood of biases arising; they can harm the quality of research and the public good (even if disclosed). [3] Conflicts of interest can involve research sponsors, authors, journals, journal staff, publishers, and peer reviewers.
A third-party beneficiary, in the law of contracts, is a person who may have the right to sue on a contract, despite not having originally been an active party to the contract. This right, known as a ius quaesitum tertio , [ 1 ] arises when the third party ( tertius or alteri ) is the intended beneficiary of the contract, as opposed to a mere ...
Someone having a conflict of interest is a description of a situation, not a judgment about that person's opinions, integrity, or good faith. COI editing is strongly discouraged on Wikipedia. It undermines public confidence and risks causing public embarrassment to the individuals and companies being promoted.
The trustee may be compensated and have expenses reimbursed, but otherwise turn over all profits from the trust and neither endebt nor riskily speculate on the assets without the written, clear permission of all adult beneficiaries. There are strong restrictions regarding a trustee with a conflict of interest. Courts can reverse a trustee's ...
SmartAsset: IRA Requirements for Minor Child Beneficiaries It is still possible to pass your IRA to a younger beneficiary. However, here are four things you should keep in mind if you intend to do so:
The 2006 reforms have also clarified the legal position that if a company does have limited objects (which is likely to become increasingly rare), an ultra vires act will cause the directors to have breached a duty to follow the constitution under section 171. So a shareholder who disagreed with an action outside the company's objects must sue ...
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