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Full-Text Articles in Law
The Enduring Ambivalence Of Corporate Law, Christopher M. Bruner
The Enduring Ambivalence Of Corporate Law, Christopher M. Bruner
Scholarly Works
Prevailing theories of corporate law tend to rely heavily on strong claims regarding the corporate governance primacy and legitimacy of either the board or the shareholders, as the case may be. In this article I challenge the descriptive power of these theories as applied to widely held public corporations and advance an alternative, arguing that corporate law is, and will remain, deeply ambivalent - both doctrinally and morally - with respect to three fundamental and related issues: the locus of ultimate corporate governance authority, the intended beneficiaries of corporate production, and the relationship between corporate law and theachievement of the …
Good Faith, State Of Mind, And The Outer Boundaries Of Director Liability In Corporate Law, Christopher M. Bruner
Good Faith, State Of Mind, And The Outer Boundaries Of Director Liability In Corporate Law, Christopher M. Bruner
Scholarly Works
The Delaware General Corporation Law was amended in 1986 to permit shareholder-approved exculpatory charter provisions shielding corporate directors from monetary liability for certain fiduciary duty breaches not including (among other things) breaches of the duty of loyalty and acts not in good faith. This article examines the development of corporate fiduciary duty doctrine in Delaware leading up to and following this statutory amendment, focusing particularly on the Delaware courts' evolving conception of the meaning anddoctrinal status of the good faith concept employed in recent cases to permit a non-exculpable cause ofaction for conscious nonfeasance.
The article argues that Delaware's good …
The Director's Fiduciary Duty In A Close Corporation, Saichai Ue-Orrachorphong
The Director's Fiduciary Duty In A Close Corporation, Saichai Ue-Orrachorphong
LLM Theses and Essays
This paper focuses on a comparative analysis of the fiduciary duties of directors in a close corporation in Thailand and the U.S. The author describes the legal standards for director’s conduct and protective measures established by law and judicial rules that protect directors that act honestly and in the best interest of the corporation. The paper examines concepts such as the business judgment rule, duty of loyalty and duty of care under the Model Business Corporation Act as well as under Thai law. The paper concludes with a suggestion that Thai law should give more leeway to directors in the …