Once management and the union include a permissive topic into a contract, then that topic becomes a mandatory item for bargaining. Both corporate officers and members of the corporation's Board of Directors are covered by the Business Judgement Rule. This rule immunizes officers and directors from personal liability but they are insurers of the corporation against loss. Personal liability will not attach if the officer or director reasonably seeks to become informed, makes a business decision that is based upon the officer's or director's best judgement and is subjectively honest. Both officers and directors are fiduciaries held to the personalized objective standard of a person in like position and circumstances.
All markets always contain material spillover benefits and costs.
A latent defect is any defect objectively know to the seller, and which the buyer is able to discover with a reasonable inspection. Sellers may use the assumption of the risk defense for latent defects only when the seller gives the buyer a reasonably effective warning of the latent defect. All torts require the plaintiff to prove by a preponderance of the evidence that the defendant had and breached a duty of care to the plaintiff, and that the defendant's breach was the proximate cause of the plaintiff's injury, when the defendant had no defenses. The courts' experience with some restraints has led the courts to the conclusion that these restraints are Per Se Unreasonable. A financing statement must be written, signed by the debtor, describe the collateral enough to prompt an investigation, and give the names and addresses of both the debtor and the creditor.