search query: @author Edmunds, R. / total: 2
reference: 2 / 2
« previous | next »
| Author: | Cowan, D. Edmunds, R. Lowry, J. |
| Title: | Lister and Co. v. stubbs: who profits? |
| Journal: | Journal of Business Law
1996 : JAN, 1, p. 22-38 |
| Index terms: | COMMERCIAL LAW PROFIT COMPANIES |
| Language: | eng |
| Abstract: | Equity has traditionally couched the liability of an agent or other fiduciary who accepts a bribe in terms of debt rather than trusteeship. This is because the principal has only a personal and not a proprietary right to the bribe. In consequence the principal can only lay claim to an account for the value of the bribe itself and not any profit derived through its investment. Nor can the principal claim the status of a secured creditor in the event of the fiduciary being insolvent. This reasoning and the English authorities supporting it have long been criticised. These criticisms have recently gained the endorsement of the Privy Council. This article aims to assess the impact of that Privy Council decision. |
« previous | next »
SCIMA