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- Title
FREEDOM AND ITS LIMITS IN THE DELAWARE GENERAL CORPORATION LAW.
- Authors
Welch, Edward P.; Saunders, Robert S.
- Abstract
The article examines the concept of freedom of contract in the Delaware General Corporation law (DGCL). It highlights some important provisions of DGCL that give stockholders broad freedom to set the terms that will govern their corporation. It addresses the competing arguments scholars have offered for and against the freedom of contract in corporation law. It suggests that an alternative explanation for the limited set of mandatory terms in DGCL, particularly the existence of specifications guaranteeing certain core qualities benefiting the state's businesses should be implemented.
- Subjects
DELAWARE; LIBERTY of contract; CORPORATION law; BUSINESS enterprise laws; STOCKHOLDERS; INVESTORS; CORPORATE governance; INDUSTRIAL management; ARTICLES of incorporation
- Publication
Delaware Journal of Corporate Law, 2008, Vol 33, Issue 3, p845
- ISSN
0364-9490
- Publication type
Article