Situation Specific Fiduciary Duties For Corporate Directors…企业董事具体情况的受托责任.pdfVIP

Washington and Lee Law R eview Volume 50 | Issue 4 Article 18 9-1-1993 Situation-Specific Fiduciary Duties For Corporate Directors: Enforceable Obligations Or Toothless Ideals? Rima Fawal Hartman Follow this and additional works at : /wlulr Part of the Corporation and Enterprise Law Commons Recommended Citation Rima Fawal Hartman, Situation-Sp ecific F iduciary D uties For Corp orate Directors: Enforceable Oblig ations Or Toothless Ideals?, 50 Wash. Lee L. Rev. 1761 (1993), /wlulr/vol50/iss4/18 This Note is brought to you for free and open access by the Law School Journals at Washington Lee niversity School of Law Scholarly Commons. It has been accepted for inclusion in Washington and Lee Law R eview by an authorized administrator of Washington Lee niversity School of Law Scholarly Commons. For more information, please contact osbornecl@. SITUATION-SPECIFIC FIDUCIARY DUTIES FOR CORPORATE DIRECTORS: ENFORCEABLE OBLIGATIONS OR TOOTHLESS IDEALS?* I. INTRODUCTION A process of philosophical change is underway in the corporate world., Judicial opinions, legislative acts, and scholarly legal articles are replete with evidence of dissatisfaction with the traditional idea that a corporation is a mere profit-making entity whose interests are equivalent to the interests of those who hold its stock.2 Helping to replace the notion that the singular role of the corporation in our society is to maximize shareholder wealth is a realistic understanding that the modern corporation is a tremendously influential institution. 3 The emergin