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THE DUTY OF DIRECTORS OF A COMPANY TOWARDS THIRD PARTIES

THE DUTY OF DIRECTORS OF A COMPANY TOWARDS THIRD PARTIES

Background: Prior to the introduction of the Companies Act No 71 of 2008 (“Companies Act”), duties pertaining to the directors (“Fiduciary Duties”) were governed by South African common law (“Common Law”). The Common Law stipulates that the directors must always act in the utmost good faith and exercise their...

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