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WASTE OF CORPORATE ASSETS

WASTE OF CORPORATE ASSETS

Under Delaware corporation law and the corporation statutes in most states, directors owe the corporation the duties of care, loyalty, and good faith (and/or obedience). A...

Investor Suitability Requirements for Broker Dealer Recommendations

Broker dealers may make investment recommendations to investors only if the broker dealer first determines that the recommended investment would be suitable for the investor. Suitability depends upon the investor's tolerance for risk, other...

Fairness Standard and Business Judgment Rule

The business judgment rule is a rebuttable, procedural presumption that a corporate director has acted on an informed basis in good faith and in the honest belief that the action taken was in the best interest of the...

Corporate Loans to Directors and Officers

At common law, a corporation's surplus funds lawfully could be loaned to directors and officers of the corporation unless the loan fundamentally was unfair to the shareholders, concealed from the shareholders, or fraudulent. The circumstances...

Actions for Discriminations under the Comprehensive Environmental Response, Compensation and Liability Act

CERCLA, the Comprehensive Environmental Response, Compensation and Liability Act, provides a "Superfund" for cleaning up hazardous waste spills. Uncontrolled or abandoned waste sites and accidents, spills, and other emergency releases into the...