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Directors have a duty not to waste corporate assets by overpaying for property or employment services. Thus the definition of waste is an exchange so one-sided that no business person of ordinary, sound judgment could conclude the corporation has received adequate consideration. This is difficult to prove in a court of law.
This doctrine fits under the broader framework of equity, in which a legal right to do something is not so unrestrained that it is impossible to abuse that right. A life tenant who is granted an estate "without impeachment of waste" (may not be sued for waste) may not commit acts of flagrant destruction inconsistent with the fruitful use of the ...
The oil depletion allowance in American (US) tax law is a tax break claimable by anyone with an economic interest in a mineral deposit or standing timber. [citation needed] The principle is that the asset is a capital investment that is a wasting asset, and therefore depreciation can reasonably be offset (effectively as a capital loss) against income.
The Ohio Revised Code (ORC) contains all current statutes of the Ohio General Assembly of a permanent and general nature, consolidated into provisions, titles, chapters and sections. [1] However, the only official publication of the enactments of the General Assembly is the Laws of Ohio; the Ohio Revised Code is only a reference. [2]
The only official publication of the enactments of the General Assembly is the Laws of Ohio; the Ohio Revised Code is only a reference. [4] A maximum 900 copies of the Laws of Ohio are published and distributed by the Ohio Secretary of State; there are no commercial publications other than a microfiche republication of the printed volumes. [5]
Solid Waste Tree, Based on Resource Conservation and Recovery Act, United States Environmental Protection Agency. Solid waste means any garbage or refuse, sludge from a wastewater treatment plant, water supply treatment plant, or an air pollution control facility and other discarded material, including solid, liquid, semi-solid, or contained gaseous material resulting from industrial ...
The business judgment rule is a case-law-derived doctrine in corporations law that courts defer to the business judgment of corporate executives. It is rooted in the principle that the "directors of a corporation ... are clothed with [the] presumption, which the law accords to them, of being [motivated] in their conduct by a bona fides regard for the interests of the corporation whose affairs ...
In economics, an asset (economics) is any form in which wealth can be held. There is a growing analytical interest in assets and asset forms in other social sciences too, especially in terms of how a variety of things (e.g., personality, personal data, ecosystems, etc.) can be turned into an asset. [9]