Aberdeen Rly Co v Blaikie Bros
http://dbpedia.org/resource/Aberdeen_Rly_Co_v_Blaikie_Bros an entity of type: SupremeCourtOfTheUnitedStatesCase
Aberdeen Railway Co v Blaikie Brothers (1854) 1 Paterson 394 is a UK company law case. It concerns the fiduciary duty of loyalty, and in particular, the duty not to engage in self-dealing. It laid down a basic rule that if a director had an interest in a corporate transaction, the transaction is voidable at the company's will, and it is the duty of directors to avoid any possibility of a conflict of interest.
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Aberdeen Rly Co v Blaikie Bros
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Aberdeen Railway Co v Blaikie Bros
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18513921
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920902595
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1913
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1
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15
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[1854] UKHL 1_Macqueen_461
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[1854] UKHL 1_Paterson_394
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250
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Self dealing, conflict of interest
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Aberdeen Railway Co v Blaikie Brothers (1854) 1 Paterson 394 is a UK company law case. It concerns the fiduciary duty of loyalty, and in particular, the duty not to engage in self-dealing. It laid down a basic rule that if a director had an interest in a corporate transaction, the transaction is voidable at the company's will, and it is the duty of directors to avoid any possibility of a conflict of interest. This case preceded the Companies Act 2006 section 177, that requires that if directors are interested in a proposed transaction, they should merely declare that interest to the board, and section 239 which stipulates that in approving any transaction the interested director may not vote.
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8633
