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Buyer Loyalty Agreement 2011-2025 Form
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People also ask
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What is a loyalty agreement?
Loyalty Agreement . ' means an agreement or arrangement between Liner Conferences and shippers or their agents whereby shippers in the United Republic confine the maritime transportation of all or part of their goods to a particular Liner Conference; Sample 1.
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What is the legal definition of duty of loyalty?
Defining the Duty of Loyalty. We begin with a definition of the duty of loyalty as a standard for officers and directors: A director or officer must act in good faith and with the conscientiousness, fairness, morality, and honesty that the law requires of fiduciaries.
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What is the loyalty clause in a contract?
During the term of his employment under this Agreement, the Employee shall not engage in any business or activity contrary to the business affairs or interests of the Company, or be gainfully employed in any other position or job other than as provided above. Loyalty.
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What is the duty of loyalty agreement?
Employee acknowledges and agrees that Employee owes a fiduciary duty of loyalty, fidelity and allegiance to act at all times in the best interest of Employer and to do no act which would injure the business, interests or reputation of Employer or any of its affiliates.
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What is an example of loyalty clause?
During my employment with the Company, I will not engage in any business activity (either for my own profit or for anyone else) that competes with the Company's business.
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What are the obligations of loyalty?
What Is Duty of Loyalty? Duty of loyalty is a person's responsibility to act at all times in the best interests of their company. The duty of loyalty is one of the two primary fiduciary duties required to be discharged by a company's directors, the other being the duty of care.
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What is the duty of loyalty in a contract?
The duty of loyalty is one of the fiduciary duties owed by a company's directors . The duty of loyalty requires the directors to place the interests of the company and the shareholders before any of their personal interests.
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What is the duty of loyalty in an LLC?
The duty of loyalty requires the member: (1) to account to the LLC and hold as trustee for it any property, profit, or benefit derived by the member in the conduct and winding up of the activities of the LLC or derived from use of the LLC property, including the appropriation of an LLC opportunity; (2) to refrain from ...
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