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| Author: | Bean, G. M. D. |
| Title: | The operator as a manager: A new fiduciary duty. |
| Journal: | Journal of Business Law
1993 : JAN, p. 24-35 |
| Index terms: | COMMERCIAL LAW JOINT BUSINESS VENTURES VENTURE MANAGEMENT |
| Language: | eng |
| Abstract: | In a joint operating agreement, the aim is to produce a product for division among the co-venturers and the product must be created with minimum cost. An operator in a JOA is usually the co-venturer with the largest percentage interest in the JOA. In a fiduciary context the maximising of returns to the beneficiary is not a generally recognised duty. Rather, fiduciary law has created duties which prevent the fiduciary from diverting profits or gains away from the beneficiary. |
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