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The New Financial Assets: Separating Ownership From Control, Tamar Frankel
The New Financial Assets: Separating Ownership From Control, Tamar Frankel
Faculty Scholarship
This Article is organized in three parts. Part One examines the nature of financial assets and their transition by market transactions from contracts to property. The discussion highlights the gray areas which financial assets occupy in decoupling, falling within both contract and property law.
Part Two describes four types of decoupled financial assets. The first type separates into two financial assets: ownership benefits and ownership risks. The presumed reduction of owners' risks prompted some academics to justify reducing the owners' protection. I suggest that attempts to protect owners from ownership risk have failed. Therefore, the suggestion was ill-conceived. The second …
The Business Judgement Rule, Tamar Frankel
The Business Judgement Rule, Tamar Frankel
Faculty Scholarship
Symposium: Current Issues in Corporate Governance: Conference Panel Discussion
Prof. Kozyris: Our discussion today will focus on the so-called "business judgment rule," a judicially developed law concept that the business decisions of corporate management should not be second-guessed by the courts. The courts will not interfere with such decisions as they are being made and carried out, nor will they impose liability on management if it turns out that the decisions were wrong.