Fishers V Jorgensen, Fishers V AWJ

Question 1

Fishers V Jorgensen, Fishers V AWJ issue

Answer 1

Directors duty of skill and care

Question 2

Fishers V Jorgensen, Fishers V AWJ court held

Answer 2

Held that the extent a director duty of skill and care largely depends on the nature of the companies businesses

Law does not require director to have special business acumen and that directors may assume that officials will perform their duties honestly.

Question 3

Fishers V Jorgensen, Fishers V AWJ legislation.

Answer 3

S76(4)

Question 4

S76(4)

Answer 4

A) provides that a director has satisfied their objectives if:

• reasonable diligent steps to become informed about a particular matter have been made.
• Director or that of a relative had no material personal financial interest in the subject matter
• Disclosed conflict in interest as required by S75
• Had a rational basis to believe that thier decision was in the best interest of the company.

Question 5

Section 76 (4) B

Answer 5

Director is entitled to rely on the performance of certain people or communities