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Commercial law (or business law), [1] which is also known by other names such as mercantile law or trade law depending on jurisdiction; is the body of law that applies to the rights, relations, and conduct of persons and organizations engaged in commercial and business activities.
Corporate law (also known as company law or enterprise law) is the body of law governing the rights, relations, and conduct of persons, companies, organizations and businesses. The term refers to the legal practice of law relating to corporations, or to the theory of corporations .
A legal doctrine is a framework, set of rules, procedural steps, or test, often established through precedent in the common law, through which judgments can be determined in a given legal case. For example, a doctrine comes about when a judge makes a ruling where a process is outlined and applied, and allows for it to be equally applied to like ...
The corporate opportunity doctrine is the legal principle providing that directors, officers, and controlling shareholders of a corporation must not take for themselves any business opportunity that could benefit the corporation. [1] The corporate opportunity doctrine is one application of the fiduciary duty of loyalty. [2]
Precedent-setting legal battles played out across the country in 2022, laying out new rules and expectations for businesses, industries, and personal finance. From Elon Musk's Twitter takeover, to ...
Law of the case; Learned intermediary; Legal certainty; Legal immunity; List of Latin legal terms; Legal transplant; Legality; Legality of the War on Drugs; List of international and European laws on child protection and migration; Living tree doctrine; Loss of chance in English law
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 principle a duly incorporated business acquires "legal personality" that is separate from the people who invest their capital, and their labor, into the corporation. Just as the common law had for municipal and church corporations for centuries, [ 30 ] it was held by the Supreme Court in Bank of the United States v Deveaux [ 31 ] that in ...