Enhanced Scrutiny and Corporate Peformance: The New Frontier for Corporate Directors

11 Pages Posted: 9 Mar 2012

See all articles by Martin Lipton

Martin Lipton

Wachtell, Lipton, Rosen & Katz

Theodore N. Mirvis

Wachtell, Lipton, Rosen & Katz

Date Written: 1995

Abstract

Four sentences into his classic work, The Common Law, Oliver Wendell Holmes pronounced: "The life of the law has not been logic: it has been experience."' Holmes contended that such things as the "felt necessities of the time, the prevalent moral and political theories," and "even the prejudices which judges share with their fellow-men have...more to do [with the determination of legal rules] than the syllogism." If the thesis of Holmes' first lecture - ominously titled "Early Forms of Liability" - holds true, a new legal rule may well be in the offing to deal with the subject of director responsibility for corporate performance.

Suggested Citation

Lipton, Martin and Mirvis, Theodore N., Enhanced Scrutiny and Corporate Peformance: The New Frontier for Corporate Directors (1995). Delaware Journal of Corporate Law, Vol. 20, No. 1, pp 123-131, 1995. Available at SSRN: https://ssrn.com/abstract=2017051

Martin Lipton (Contact Author)

Wachtell, Lipton, Rosen & Katz ( email )

51 West 52nd Street
New York, NY 10019
United States
212-403-1000 (Phone)
212-403-2000 (Fax)

Theodore N. Mirvis

Wachtell, Lipton, Rosen & Katz ( email )

51 West 52nd Street
New York, NY 10019
United States

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