Examlex
Which of the following phrases best captures the notion of efficiency?
Business Judgment Rule
A legal principle that protects corporate directors or officers from liability for decisions made in good faith and believed to be in the best interest of the company.
Property Taxes
Taxes assessed on real estate by local government, calculated based on the assessed value of the property.
Corporation Liability
Legal concept where a corporation, a legal entity recognized by law, can be held legally responsible for acts or omissions.
Revised Model Business Corporation Act
A set of model statutory provisions designed to guide states in the development of their corporate statutes, providing a standard for corporate governance and operations.
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