Chapter 3: choice of corpo law Flashcards
(8 cards)
1
Q
internal affairs doctrine
A
incorporation states governs internal matters
2
Q
(EU) real seat principal
A
primary place of business govern or admin centre (HQ)
3
Q
California Corporate Code 2115
A
majority of business or majority of SH in cali
4
Q
opt-in
A
directors can amend bylaws if charter allows it
5
Q
opt-out
A
director can amend bylaws by default
6
Q
Why Delaware dominates
A
no juries in corpo case
publish precedent
tax advantage
7
Q
Contractarian theory
A
min state intervention
8
Q
Critics of Contractarian theory
A
lack diversity (plain vanilla)
BOD independence (reput & econ sanctions)
state competition (no value max)
