Principal (commercial law)

About: Principal (commercial law) is a research topic. Over the lifetime, 1579 publications have been published within this topic receiving 35379 citations. The topic is also known as: Principal (commercial law).

Delegation of authority by school principals — an Education Law perspective

Abstract: In today's litigious society, every management action of the school principal is potentially loaded with legal implications. It is therefore important for the school principal to have a clear understanding of legal principles that equally apply to education management. Invariably, one would not expect a principal to consult a lawyer every time a professional decision needs to be taken. This research has examined the legal implications of delegation as one of the school principal's managerial tasks. It proceeds from the premise that the school principal possesses statutory delegated authority and common law discretionary powers of delegation. It is therefore crucial that in exercising such powers, due consideration should be given to certain legal principles, such as: the delegatus delegare non potest rule prescribing that “a delegate cannot delegate his authority” and the ultra-vires doctrine , restricting the exceeding of powers given. An empirical investigation was undertaken with reference to the legal...

Enterprise-wide systems enabling physicians to manage care

Abstract: In their conceptualisation of the principal/agent relationship, Jensen and Meckling [1] were not referring to a Knowledge Worker agent. Given the prevalence of knowledge workers in today's workforce, we extend agency theory to the context of a Knowledge Worker (KW) agent. In doing so, we argue that a key role for enterprise-wide systems, in such a context, is in facilitating the monitoring function. To test this, we investigate the dynamics of a critical principal - KW agent relationship in the healthcare industry; namely that between the managed care organisation and primary care physician. Our case study data reveals that enterprise-wide systems adopted went beyond just alleviating the agency problem, as we predicted, to enabling the KW agent to perform a new function - "self-monitoring". Our results are significant to agency relationships and the use of enterprise-wide systems with knowledge workers.

Controlling CRISPR Through Law: Legal Regimes as Precautionary Principles.

Abstract: Since its advent in 2012, CRISPR has spawned a cottage industry of bioethics literature. One principal criticism of the technology is its virtually instant widespread adoption prior to deliberative bodies conducting a meaningful ethical review of its harms and benefits-a violation, to some, of bioethics' "precautionary principle." This view poorly considers, however, the role that the law can play-and does, in fact, play-in policing the introduction of ethically problematic uses of the technology. This Perspective recounts these legal regimes, including regulatory agencies and premarket approval, tort law and deterrence, patents and ethical licenses, funding agencies and review boards, as well as local politics. Identifying these legal regimes and connecting them to the precautionary principle should be instructive for bioethicists and policy makers who wish to conduct ethical reviews of new applications of CRISPR prior to their introduction.

Introduction: understanding neoliberal legality

Abstract: However, nowhere has there been a systematic attempt to understand how these divergent threads are woven together in order to develop a holistic and coherent understanding of the relationship between law and neoliberalism. This volume hopes to initiate such a discussion. The volume does not examine law and neoliberalism as fixed entities or as philosophical categories, however, and its objective is not to uncover or devise ‘the law of neoliberalism’. Nor is this volume about all manner of changes to the discipline of law in the neoliberal period. Instead, it uses empirical evidence to explore and theorise the relationship between law and neoliberalism as dynamic and complex social phenomena. It concerns itself specifically with the role law plays in the neoliberal project. It asks not just what about law has changed but also why, why now, why law, and to what end. The volume explores and advances the following principal arguments. It contends that law takes a particular shape in the neoliberal period that is consistent with, but also more specific than, the liberal-capitalist legal form. It demonstrates that certain aspects of law have enabled it to play a crucial role in conceiving, constructing, and cohering neoliberalism in a way that other social institutions, structures, or sets of norms could not. It illustrates how law fundamentally shapes neoliberalism and argues that neoliberalism should be considered a juridical project, in addition to a political, ideological, and economic one. Finally, it underlines that the relationship between law and neoliberalism is not automatic but presents and embodies contradictions and vulnerabilities in the law and in the neoliberal project that highlight possibilities for emancipatory change. As it constructs these arguments, the volume introduces the concept of ‘neoliberal legality’ to denote the specific form, mode, and role that law assumes in the neoliberal period. This concept builds upon the idea of ‘liberal legality’ which represents the particular historical form law takes in liberal capitalist societies. In this formulation, law is conceived as a system of generalised rules that are interpreted through reason and applied equally to all following rational procedural formalities in a manner void of political concerns and outcomes (Klare, 1979). These ambitious and decontextualising claims to law’s neutrality, equality, and rationality are widely known in critical legal scholarship to legitimise the legal order, but they also foster a particular world view and facilitate certain types of relationships and interactions whilst restricting others. This volume contends that the logic and legitimacy of the legal form have played an active, unique, and essential role in the construction of the neoliberal world order. In this view, it is not only the content of neoliberal law that has helped to create the neoliberal order but also the very fact that law has been used in its creation. It is even possible to speculate that neoliberalism might not have become so powerful, at the current time, or in its current form if liberal legalism had not enjoyed a particular degree of hegemony in thesame moment as the political and economic conditions of neoliberalism occurred. The volume thus argues that neoliberalism must be seen as a convergence of intertwined and mutually influential political, economic, and juridical trajectories. Neoliberalism is as much a juridical phenomenon as a political and economic one, and it is only in understanding the juridical thrust of neoliberalism that we can hope to fully comprehend the specificities (and continuities) of the neoliberal period as a whole.

Agency problems in public sector

Abstract: Agency theory analyses the effects of contractual behaviour between two parties: principal(s) and agent(s). This relation is inevitably characterized by information asymmetry because agent holds a substantially larger volume of information than the principal. Due the negative effects of information asymmetry for the principal, this should cover supplementary costs with monitoring agents and/or grant incentives. The first objective of this paper is to emphasize the effects of information asymmetry, particularly on adverse selection and moral hazard. The second objective is to evaluate the negative effects of information asymmetry and to assess the viability of solutions proposed by scholars for mitigation. The third objective is linked with personal contribution, respectively to highlight specificity of agency theory in public sector and the mechanisms of action in this particular field. In this paper, literature is mainly based on scholarsA¢â‚¬â"¢ contribution to the proposed theme. Little literature approaches agency theory in public sector, in most cases the analysis being restricted to general issues. Research methodology is based on synthesizing relevant information from literature and adapting them to public sector particularities. The results reflect some threats for public bodies in their contracting activity. Conclusions present also a set of solutions which could be used by public institutions to optimize their activity of mitigating information asymmetryA¢â‚¬â"¢s effects. These solution guidelines could represent a useful instrument for make more efficient public money spending. Personal contribution and the novelty of this paper consist in presenting a new approach regarding mechanisms of managing information by agents. In case of public institutions, principals have more opportunities the take possession over the information managed by the agent. Nevertheless, agents can limit the principalA¢â‚¬â"¢s access to vital information by offering excessively much information, combining few vital data with numerous unimportant information. For further research, agentA¢â‚¬â"¢s information management should be depth and analyzed in which manner principal can control it.