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Fiduciary
Fiduciary Cartoons

Fiduciary

Fiducial; fiduciary duty; corporate fiduciary; corporation fiduciary relationship; Remillard Brick Company v. Remillard Dandini Company
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Related Cartoons

Freeze-Out Remedy
Freeze-Out Remedy
Brodie v. Jordan; The proper remedy for a freeze-out is to restore the minority shareholder as nearly as possible to the position she would have been in had there been no wrongdoing; close corporation; dividend; injunction.
Can Oust LLC Member and Continue LLC
Can Oust LLC Member and Continue LLC
Dunbar Group, LLC v. Tignor; Only when present circumstances show that it is not reasonably practicable to carry on company's business in accord with articles of organization and any operating agreement may court order dissolution of LLC.
Wind Up Of A Partnership
Wind Up Of A Partnership
Farnsworth v. Deaver; When a partnership is winding up, a partner with a negative balance in his or her capital account must repay that negative balance and return the account to zero.
Exit Provisions Of A Limited Liability Company
Exit Provisions Of A Limited Liability Company
Haley v. Talcott; Contractual provisions in an LLC agreement that provide a mechanism for a member to exit will be enforced only if they equitably effect the separation of the parties.
No Exoneration For Disloyal Directors
No Exoneration For Disloyal Directors
Sutherland v. Sutherland; A provision in a corporate charter that purports to exonerate directors from breach of loyalty claims is unenforceable.
Termination of Minority Shareholder
Termination of Minority Shareholder
Gallagher v. Lambert; A minority shareholder in a close corporation who agrees to the repurchase of his shares upon termination of employment acquires no right against at-will discharge.
Preliminary Injunction Requirements
Preliminary Injunction Requirements
In re El Paso Corp. Shareholder Litigation; to obtain a preliminary injunction, must demonstrate (1) a reasonable probability of success on the merits, (2) will suffer irreparable harm, and (3) the balance of the equities
Dead Hand Provision
Dead Hand Provision
Carmody v. Toll Brothers, Inc.; A dead hand provision in a poison pill rights plan is both invalid as ultra vires and because it constitutes a breach of fiduciary duty.
Majority Of The Minority Vote
Majority Of The Minority Vote
In re MFW Shareholders Litigation; business judgment rule standard of review applies to controlling stockholder merger if procedural safeguards followed; majority of the minority stockholder approval. Going private transaction.
LLC Apparent Authority
LLC Apparent Authority
Estate of Collins v. Geist; A manager of an LLC has the apparent authority to bind the LLC when he executes in its name an instrument for carrying on, in the usual way, its business or affairs. Limited Liability Company.
Distinct Legal Entity
Distinct Legal Entity
3519-3513 Realty, LLC v. Law; a limited liability company and its sole member are distinct legal entities.
Common Fund Fee Award
Common Fund Fee Award
Sugarland Ind., Inc. v. Thomas; when services provided by shareholders and their counsel result in a financial benefit to the corporation, they are entitled to a fair fee. Common fund method. Lodestart method.

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