Aside from fiduciary duties to its shareholders, a corporation has no outside duties in the absence of any regulatory scheme, does it?
In other words, if there is no governmental regulatory scheme isn't it in the best interest of a corporation to cheat if the risk calculus is advantageous to do so?
After all, in the view of the corporate entity, as long as the customer agrees to pay the amount negotiated, wouldn't cheating, lying, misrepresenting, etc., not only be okay but advantageous from an economic standpoint if there were no statutory scheme penalizing it?
P.S. By "regulatory/statutory scheme" I mean laws to obey.
My question basically addresses instances where there are no laws on the books to regulate certain types of corporate behavior, such as emerging areas of internet commerce.
2007-05-03
04:50:41
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5 answers
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asked by
Anonymous