Unformatted text preview: Corp opportunity is Does corp have interest (if firm has preexisting contrct right to it) or a expectancy (if corp while not contractually entitled to it it is reasonable expectation to receive it) or necessity (if it refers to goods that corp needs to stay in business.). Line of business case (in corp line of business where corp is engaged in certain business consanent w/ ) this is the deleware test. Opportunity presented to corporatioin and has financial position component. All are necessary. Fairness test not used in many jurisdictions = case by case opportunity is corp if the fiduciary did not act fairly and equitably. Hybrid tests some states get interest expectancy with line of business. Others may do lien of business and fairness....
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- Spring '10
- independent board members, intrinsic fairness Cinerama