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Case Study

1032 words - 5 pages

The duties of the corporate directors and officers must be exercised with the due care while performing their duties. The standard or the meaning of due care has been described in several ways in judicial opinions and reduced in many corporation codes. In other words, a director or officer is expected actions to behave in the way of good faith, in order to exercise this method which is a person who shows care towards similar conditions, also must act towards the same case or conditions to be faithful and to consider or look attentively at the best interests towards the corporation .
Duty to make informed and reasonable decisions making is another main duty for directors and officers. They ...view middle of the document...

An unintentional mistake of judgment do not make directors and officers liable to the corporation for resulting losses.
The business judgment rule puts the directors and officers in a position that they are immunized from liability for the result and effect of the decision that is within the managerial authority. As long as the decision acts in accordance with the managements trusted duties and acting towards the decision in the hands of the corporation. In order to benefit from the business judgment rule is for the directors and officers must act patently and faithful toward their considerations at the best interests of the corporation. Also this is required an informed decision based on accordance with a person reasons and logic towards the underlying support, along with no conflicts to be occurred between the decision makers and the interest of the corporation.
As for shareholder voting, there two different type of voting which are proxy voting and cumulative voting. Proxy voting is a form of members of a decision making may delegate their voting power to other member s to vote in their absence meeting and or to select additional representatives and actions. Only one vote per member can be made within the meeting. Cumulative voting is a form of voting in an election in which each voter is allowed to vote more than once and may give them all to one member or divide them among the rest of the members of the meeting.

For those who are in control of the corporation, known as the corporation directors failed to sue within the corporation name to remedy the wrong that is suffered by the corporation or within. The shareholders have the power to authorize and allow to do the derivatively which know as a term of shareholders derivative suit. This term gives the shareholders the permit to bring or up an action and implement it against members who are apparently harming or causing the wrong to the corporation and effecting it stats. In order for the shareholder to implement this strategy or action there should be a mistake or...

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