The Study of the Business Judgment Rule in Americans Corporate Law and its Comparison with Iranian 's Law

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BARIKLOU ALIREZA; Sardoueinasab Mohammad; Mirjalili Mahdi

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Journal: Journal of Comparative Law Year:2021 | Volume:8 | Issue:1 (15) Page(s): 87-110

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Information Journal Paper

Title

The Study of the Business Judgment Rule in Americans Corporate Law and its Comparison with Iranian 's Law

Author(s)

BARIKLOU ALIREZA | Sardoueinasab Mohammad | Mirjalili Mahdi | Issue Writer Certificate

Keywords

The Business Judgment Rule

Managerial Standard

Board of Directors

Shareholders

The Abstention Doctrine

Abstract

The Business Judgment Rule as a central and a judicially created doctrine in commercial􀀃 companies’ 􀀃 law􀀃 immunes􀀃 corporate directors from personal liability for decisions they make on behalf of a corporation in order to manage it. There are two approaches about its reliability in American law. According to the first approach, the court can hold directors liable only if their decisions do not correspond with management standards. According to the second approach􀀃 which􀀃 is􀀃 considered􀀃 as􀀃 “ The􀀃 Abstention􀀃 Doctrine” , 􀀃 the􀀃 courts􀀃 can’ t􀀃 basically􀀃 and􀀃 usually􀀃 review􀀃 the􀀃 board’ s􀀃 decisions􀀃 and􀀃 actions. 􀀃 Based􀀃 on􀀃 this􀀃 approach, directors are personally liable against corporation only in special cases. The distinction between these conceptions matters a great deal and essentially comes down to who has the burden of establishing the existence of the factors that would grant or deny business judgment rule protection. In this article, we deal with these two approaches and its differences with Iranians commercial regulations comparatively.

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APA: Copy

BARIKLOU, ALIREZA, Sardoueinasab, Mohammad, & Mirjalili, Mahdi. (2021). The Study of the Business Judgment Rule in Americans Corporate Law and its Comparison with Iranian 's Law. COMPARATIVE LAW (NAMEH-YE MOFID), 8(1 (15) ), 87-110. SID. https://sid.ir/paper/960705/en

Vancouver: Copy

BARIKLOU ALIREZA, Sardoueinasab Mohammad, Mirjalili Mahdi. The Study of the Business Judgment Rule in Americans Corporate Law and its Comparison with Iranian 's Law. COMPARATIVE LAW (NAMEH-YE MOFID)[Internet]. 2021;8(1 (15) ):87-110. Available from: https://sid.ir/paper/960705/en

IEEE: Copy

ALIREZA BARIKLOU, Mohammad Sardoueinasab, and Mahdi Mirjalili, “The Study of the Business Judgment Rule in Americans Corporate Law and its Comparison with Iranian 's Law,” COMPARATIVE LAW (NAMEH-YE MOFID), vol. 8, no. 1 (15) , pp. 87–110, 2021, [Online]. Available: https://sid.ir/paper/960705/en

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