The corporate officer's independent duty as a tonic for the anemic law of executive compensation
Article Abstract:
The courts have been unresponsive to shareholder and public outrage over the compensation of executives. Courts have focused on the process used in determining the salaries in such cases, rather than looking to see if the executive merits the compensation. Corporate law states that officers owe certain responsibilities to a corporation that are independent of the directors. The executive is thereby duty-bound to reject compensation that is not reasonable. Using this approach would force the courts to decide if the executive merits the pay, not if the directors legally compensated the employee.
Publication Name: The Journal of Corporation Law
Subject: Law
ISSN: 0360-795X
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
Abolishing veil piercing
Article Abstract:
The argument that corporate veil piercing cannot be justified and should therefore be abolished is given. Veil piercing results in greater transaction costs for small businesses and little social payoff as judges are more concerned with the facts of an individual case than with socially beneficial outcomes.
Publication Name: The Journal of Corporation Law
Subject: Law
ISSN: 0360-795X
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: The regulatory response to the new world of cybersecurities. Jurisdiction in cyberspace: which law and forum apply to securities transactions on the Internet?
- Abstracts: The conception that the corporation is a nexus of contracts, and the dual nature of the firm. Measuring the domain of mediating hierarchy: how contestable are U.S. public corprations?
- Abstracts: The Fourth Amendment and dormitory searches - a new truce. Why Title IX does not preclude Section 1983 claims
- Abstracts: The Assembly of States Parties and the institutional framework of the International Criminal Court. Improving the operation and functioning of the international criminal tribunals
- Abstracts: The National Joint Council of the Public Service of Canada: a vehicle for bargaining and dispute resolution. A pay equity saga: the public service alliance of Canada vs. the Treasury Board of Canada Secretariat