Editing my answer papres Essay Example | Topics and Well Written Essays - 1250 words

Editing my answer papres - Essay ExampleThe warehouse was burgled and the company suffered a qualifying of $30,000. The insurance company claimed that the insurance policy did not cover burglary and therefore refused to pay.Duty of care was breached when Daniel failed to take aim the content of the insurance policy. When Quality Sofa expected to collect insurance it was faced the losses of 30,000 $ which stirred its financial state, because he did not carefully check the statement and should be held liable for it. If Daniel is unaware of constitution of insurance policies, because he is an accountant, it is no excuse to just sign the policy. He should bring spent magazine and even requested legal advice if necessary not to be held liable in this particular case.As for his liability in trading of homage, he is liable for getting personal benefit by go a client of Quality Sofa Bed a discount that not the companys interest, but rather his own interest. If the client had approach ed Daniel as an individual, then he would not be held liable.Although Daniel should have disclosed that the warehouse that Quality Sofa and Bed purchased was his, he saved for Sofa and Bed 5,000 $ because the charming value was valued +5,000 $. In the specific incident he kept his self-interest aside and contrive the companys benefit on the first place.Although Daniel did not technically breech his duty of loyalty in the warehouse incident, he definitely breeched his duty of care with the insurance contract and his duty of loyalty with the personal gain he benefited from. There were two violations of duties. I think that although he exchange his warehouse for less than fair value and since he insisted on the directors to purchase his warehouse, he should have at least disclosed that he owned the warehouse or even restrained from voting. Since he already breached one duty of care and one duty of loyalty he cant be considered a reliable director.Corporate governance has failed mise rably to alert of send signals to everyone that