| Title |
Verslo sprendimo taisyklės taikymo priežastys / |
| Translation of Title |
Reasons of application of the business judgment rule. |
| Authors |
Jarusevičius, Justinas |
| DOI |
10.15388/Teise.2019.110.5 |
| Full Text |
|
| Is Part of |
Teisė.. Vilnius : Vilniaus universiteto leidykla. 2019, t. 110, p. 80-102.. ISSN 1392-1274. eISSN 2424-6050 |
| Keywords [eng] |
company law ; civil liability of the executives of the private legal entities ; business judgment rule ; reasons of application |
| Abstract [eng] |
The reasons which led to the formation of the business judgment rule and its implementation are discussed in the present article. The courts usually have the competence to rule on the legality of the defendant’s actions and (or) their civil liability. Courts’ competence is being limited when the legality of the business decisions is analyzed and (or) the case of civil liability of the board members‘ or chief executive officer‘s of the private legal entities is decided. Due to the application of the business judgment rule the courts should abstain from evaluating the legality of the business judgments of the private legal entities, if they turned to be unprofitable or profitable not enough where such decisions were made by complying with the duties applied to the board members or chief executive officers. Motives, which justifies special civil liability regime of the directors are analyzed in the article. |
| Published |
Vilnius : Vilniaus universiteto leidykla |
| Type |
Journal article |
| Language |
Lithuanian |
| Publication date |
2019 |
