| Contractual Liability |
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| CONTRACTUAL LIABILITY More... |
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| CORPORATE DIRECTORS |
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| AN OVERVIEW OF FIDUCIARY RESPONSIBILITIESMore... |
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| Business & Corporate Entities> Corporations> Shareholders & Other Constituents> Shareholder Duties & Liabilities |
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| (Controlling Shareholder Duties)More... |
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| Business Judgment Rule |
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| The business judgment rule protects a director(s) from personal liability if he or she has performed diligently and carefully in legitimate furtherance of corporate objectives and purposes and has not acted fraudulently, illegally, or otherwise in bad faith. The business judgment rule may be codified, but it is largely a matter of judicial interpretation and application. The business judgment rule is frequently invoked in shareholder damage suits against a director or board of directors. Courts generally acknowledge that the business judgment rule either does or may apply to corporate officers. More... |
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| BUSINESS JUDGMENT RULE |
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| DERIVATIVE SUITSMore... |
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