| gen. |
business judgement rule (The rule that the courts will not generally interfere in the conduct of a business. For example, the courts will not substitute their judgement for that of the directors of a company unless the directors are acting improperly. The rule is often invoked when directors are accused of acting out of self-interest in takeover bids. OB&M. A legal principle that makes officers, directors, managers, and other agents of a corporation immune from liability to the corporation for loss incurred in corporate transactions that are within their authority and power to make when sufficient evidence demonstrates that the transactions were made in Good Faith.  thefreedictionary.com Alexander Demidov) |
