Delaware Corporate Law and the Model Business Corporation Act: A Study in Symbiosis

15 Pages Posted: 26 Mar 2011

See all articles by Jeffrey M. Gorris

Jeffrey M. Gorris

Friedlander & Gorris, P.A.

Lawrence A. Hamermesh

Widener University Delaware Law School; Institute for Law and Economics

Leo E. Strine, Jr.

Wachtell, Lipton, Rosen & Katz; University of Pennsylvania Carey Law School; Harvard Law School Forum on Corporate Governance

Date Written: March 25, 2011

Abstract

Despite criticism of Delaware’s corporate statutes by the drafters of the original Model Business Corporation Act (MBCA), there has been a constructive symbiosis between the MBCA and Delaware’s corporation law, including its statutory component: each set of statutes has been informed by drafting and case-law experience generated under the other; especially in recent years, Delaware’s legislature and judiciary have initiated important new elements of corporate law, subsequently adopted by the MBCA; and the MBCA’s more deeply deliberative style has led to useful refinements of Delaware law.

Keywords: Delaware, corporation law, corporate law, model business corporation act, corporations

JEL Classification: K22

Suggested Citation

Gorris, Jeffrey M. and Hamermesh, Lawrence A. and Strine, Jr., Leo E., Delaware Corporate Law and the Model Business Corporation Act: A Study in Symbiosis (March 25, 2011). Law and Contemporary Problems, Vol. 74, p. 107, 2011, Widener Law School Legal Studies Research Paper No. 11-15, Available at SSRN: https://ssrn.com/abstract=1795310

Jeffrey M. Gorris

Friedlander & Gorris, P.A. ( email )

222 Delaware Avenue, Suite 1400
Wilmington, DE 19801
United States

Lawrence A. Hamermesh (Contact Author)

Widener University Delaware Law School ( email )

4601 Concord Pike
Wilmington, DE 19803-0406
United States
302-477-2132 (Phone)
302-477-2257 (Fax)

Institute for Law and Economics

3501 Sansom Street
Philadelphia, PA 19104
United States

Leo E. Strine, Jr.

Wachtell, Lipton, Rosen & Katz ( email )

51 W 52nd St
New York, NY 10019
United States
212-403-1178 (Phone)

University of Pennsylvania Carey Law School ( email )

Philadelphia, PA
United States

Harvard Law School Forum on Corporate Governance ( email )

1563 Massachusetts Avenue
Cambridge, MA 02138
United States

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