Table of Contents
What is the relationship between power and responsibility?
For example, a leader can choose to do the work himself, or he can delegate it. He can decide how and who to delegate it to. This is a prerogative and power of leadership, and it also comes with the responsibility to make the right choices.
What is the difference between a power and a trust?
A power of appointment is fundamentally different because the donee of a power has a discretion whether to act or not. No action can be brought if the power of appointment is not exercised, whereas the beneficiaries of a trust can bring an action whenever a trustee fails to act.
What is a power right?
A right is inherent. It does not have to be written down anywhere. Some writers refer to rights enshrined in the Constitution. These inalienable rights above are different, and far superior to constitutional rights. A power has its genesis either in constitutional law, common law or statute.
Is power of attorney the same as a trustee?
The Trustee only manages the assets that are owned by the trust, not assets outside the trust. The Power of Attorney controls assets that are not inside your trust such as retirement accounts, life insurance, sometimes annuities, or even bank accounts that are not in trust title.
What is the responsibility of power?
There is fundamentally no difference between power and responsibility; they are the same thing, whether we recognize it or not. This is because power is the ability to influence the world, responsibility is the quality of having causally influenced an event to occur.
What is the meaning of with great power comes great responsibility?
“With great power comes great responsibility” has a simple meaning; if you have the ability to do something, make sure that you do it for the good of others. Highly admired people like Gandhi and Ninoy Aquino have done things that follow the spirit of this message.
How are fiduciaries required to behave?
A fiduciary is a person or organization that acts on behalf of another person or persons, putting their clients’ interests ahead of their own, with a duty to preserve good faith and trust. Being a fiduciary thus requires being bound both legally and ethically to act in the other’s best interests.
Is having power a right?
In our society power is not inherent, as are rights, but is granted. Individuals have rights; groups (including governments) have power.
What is the difference between duty and function?
Duty..a duty can be describe as an action on some conditions followed by laws at some offices ,department as employee. Function….function is an action for a while at a particular place or any where without applying laws and Add a Comment Add your answer: Earn +5pts Q: What is the difference between duty and function? Write your answer… Submit
Which is the best description of a duty?
In basic terms, duties are indirect taxes imposed on the consumer. Governments charge on specific goods and services that are manufactured and sold within their country, as well as on imported goods (known as import or customs duty).
What’s the difference between a duty and a tariff?
A duty refers to the specific amount of money paid as per the pre-determined tariff rates decided by a government. In both cases, the taxes are levied by the government and the income generated goes to the government.
How is the word duty used in management?
In management, the word ‘duty’ is used to define the tasks or functions which an employee has to perform, as it is a part of his/her job. In economics, duty is described as a form of tax levied by the government on the goods purchased from or sold to foreign countries.