Theories of the Corporation

David K. Millon

133 citations0/0 files storedDuke Law Journal

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Corporate Finance and Governance Legal principles and applications Corporate Governance and Law

Abstract

As used in this Essay, the terms "management" or "managers" refer collectively to the corporation's board of directors and senior officers.45. Horwitz, supra note 5, at 184-85.Some states also held directors personally liable for dividend payments that rendered a corporation insolvent, for debts contracted while loans were outstanding to shareholders, for permitting debts to exceed capital, or for issuing stock in return for

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