business-judgment rule

Corporations. The presumption that in making business decisions not involving direct self-interest or self-dealing, corporate directors act on an informed basis, in good faith, and in the honest belief that their actions are in the corporation’s best interest. • The rule shields directors and officers from liability for unprofitable or harmful corporate transactions if the […]

business-judgment rule. Corporations. The presumption that in making business decisions not involving direct self-interest or self-dealing, corporate directors act on an informed basis, in good faith, and in the honest belief that their actions are in the corporation’s best interest. • The rule shields directors and officers from liability for unprofitable or harmful corporate transactions