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Re: fiduciary duty, entire fairness and opportunity cost

From: Elliott Weiss <weiss@law.arizona.edu>
Date: Thu, 11 Mar 2004 14:32:26 -0700
Message-ID: <LYRIS-24436-16750-2004.03.11-16.32.44--www-validator-css#w3.org@list.law.umaryland.edu>
To: "BIZLAW" <bizlaw@list.law.umaryland.edu>

I believe that the official Comment to MBCA sec. 8.31 addresses a 
hypothetical similar to yours and suggests that it  illustrates a 
situation in a director did (or could) not reasonably believe her 
decision was in the best interests of the corporation. If such a 
transaction would involve a breach of the duty of care for which a 
director could be held liable, it also presumably would not qualify as 
entirely fair.

Elliott J. Weiss
University of Arizona College of Law
1201 E. Speedway Blvd. 
P.O. Box 210176
Tucson, AZ 85721-0176

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Received on Thursday, 11 March 2004 16:33:41 UTC

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