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Corporate Conflicts Of Interest Under The Virginia Stock Corporation Act, Stephen R. Larson

University of Richmond Law Review

Dealings between a corporation and its officers or directors present a perennial corporate law problem. Officers and directors are often the people most interested in the success of the corporation and they accordingly may well be willing to contract with their corporation on terms far more favorable to it than are otherwise available. On the other hand, these same people are often in a position to cause the corporation to enter into contracts which are highly advantageous to the officer or director involved, but which are grossly unfair and detrimental to the corporation itself.