Statutory law in Texas differs on what fiduciary duties are owed based on the various entities recognized by the BOC. A corporation has extensive statutes directly addressing fiduciary duties of directors while LLC statutes are less clear on what exactly are the default fiduciary duties of managers. Corporations Generally, directors have fiduciary duties owed
When forming an LLC there are certain precautions that owners must take in order to avoid incurring personal liability in connection with your business. The general rule in LLCs is that a member or manager is not personally liable for a debt, obligation, or liability of a limited liability company, including a debt, obligation, or
Inherently Dangerous Products Washington has adopted comment k of the Restatement (Second) of Torts Section 402A, which precludes liability for certain “unavoidably unsafe products.” Moreover, a defendant will not be held strictly liable merely because a product is potentially unsafe, unless it also fails to provide adequate warnings. The Washington Supreme Court has explained that
6/8/2015 The global financial world received a huge shakeup Sunday when the co-CEOs of Deutsche Bank, one of the largest financial institutions in the world, announced their resignations. Anshu Jain and Jürgen Fitschen were essentially purged following an emergency meeting by the bank’s board of directors. Jain will be leaving on June 30th, replaced by
6/7/2015 One of the major environmental concerns since the beginning of this decade has been the use of hydraulic fracturing, or “fracking” to unearth natural gas and oil shale reserves. The process uses high-pressure water among other substances to create or to widen holes into the shale formation in order to release the gas or
6/06/2015 Relations between the United States and China are cooling once again after the U.S. suffered one of the most devastating cyber-attacks in history. Although the Obama administration has yet to officially accuse China for Thursday’s hack on the Office of Personnel Management (OPM), security and law enforcement officials believe it was conducted by the
This post is courtesy of a guest writer, Josh Weinberger. 3-D Printing and the law have always been strange bed partners; from Cody Wilson’s 3-D printed gun to a range of intellectual property concerns and disputes. But as this technology matures, you will see it more and more in the courtroom. Rather than being
6/5/2015 An FDA advisory committee voted 18-6 on Thursday, April 4th to recommend the approval of the drug, flibanserin, a medicine designed to increase the sexual desire in women. Known colloquially as “female Viagra,” two prior attempts at moving the drug through the Food and Drug Administration (FDA) process had been rejected. Drug developer Boehringer
6/5/2015 Talks are underway for what could potentially be the third gigantic cross-platform communications merger this year. Dish Network, the nation’s second-largest satellite provider and America’s fourth-largest wireless company, T-Mobile; have begun preliminary negotiations for a merger. This follows the nearly finalized AT&T’s $49 billion acquisition of leading satellite provider, DirecTV, and Charter Communications recent
6/3/2015 Well, the rapturous joy that recently liberated American phone call enthusiasts have exuded will now be quelled after a rousing 48-hour celebration in the streets of major U.S. cities everywhere. The Mardi Gras-level celebration quickly subsided as individuals began shouting from the rooftops last night, “Hang up your phones! The Freedom Act is coming,