In a market place you must be honest and live up to your contractual obligations. That, is the morality of a market place. FIDUCIARY DUTY: When you become someone's fiduciary however, you owe them much more than the morality of the market place . You owe them a duty of unremitting honesty to the company & shareholders. You are required to act for their benefit not your own. Thus; 1. No Fraud; 2. No Lies; 3. Act in Good Faith; 4. Fiduciary responsibility; 5. Full disclosure (All material information in a director's position has to be disclosed). The Legal Duty of Good Faith is much more than the morality in the market place.
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Trust Law , Expressed, Resulting , Constructive
In a market place you must be honest and live up to your contractual obligations. That, is the morality of a market place.
FIDUCIARY DUTY:
When you become someone's fiduciary however, you owe them much more than the morality of the market place . You owe them a duty of unremitting honesty to the company & shareholders. You are required to act for their benefit not your own. Thus;
1. No Fraud;
2. No Lies;
3. Act in Good Faith;
4. Fiduciary responsibility;
5. Full disclosure (All material information in a director's position has to be disclosed).
The Legal Duty of Good Faith is much more than the morality in the market place.
Greedy people have now made it illegal to be greedy in any way that doesn't benefit them. I love capitalism.