Practice question
Which distinction is central to applying business-judgment deference?
- Commercial wisdom versus compliance with legal duties and authority
- The color of competing proposals
- The directors’ favorite sport
- The office’s street number
- The number of advertisements
Legal references
- Revised Corporation Code, RA 11232, Sections 22, 30 and 61: https://lawphil.net/statutes/repacts/ra2019/ra_11232_2019.html
- Montelibano v. Bacolod-Murcia Milling Co., G.R. No. L-15092, May 18, 1962, main decision: https://www.lawphil.net/judjuris/juri1962/may1962/gr_l-15092_1962.html
- Teng v. Teng, G.R. No. 277015, February 17, 2025, main decision: https://lawphil.net/judjuris/juri2025/feb2025/gr_277015_2025.html
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