In a normal public corporation, shareholders do not owe fiduciary duties to each other. … Such a fiduciary duty is held on duties of utmost good faith, loyalty, honesty and fairness. Who owes a fiduciary duty? The person who has a fiduciary duty is called the fiduciary, and the personRead More →
Creditors are individuals/businesses that have lent funds to another company and are therefore owed money. By contrast, debtors are individuals/companies that have borrowed funds from a business and therefore owe money. Who does a debtor owe money to? Debtors owe money to individuals or companies (such as banks). Debtors canRead More →
The federal debt currently exceeds $23.4 trillion. It’s estimated that it could grow by an additional $13 trillion before 2028. The current level of spending is unsustainable, and experts agree that the current deficit will have disastrous consequences for the economy. Does any country owe the US money? Despite substantialRead More →