Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

internal-affairs doctrine

Read a random definition: commoner

A quick definition of internal-affairs doctrine:

The internal-affairs doctrine is a rule that says when there is a disagreement between a company and its shareholders, directors, officers, or agents, the law of the state where the company was incorporated will be used to solve the problem. This rule applies in most states, but some states like California and New York have their own requirements for foreign companies. Basically, this rule helps to determine the rights and responsibilities of a company's managers and shareholders, and it is called the internal affairs doctrine.

A more thorough explanation:

The internal-affairs doctrine is a rule that applies in disputes involving a corporation and its relationships with its shareholders, directors, officers, or agents. It states that the law to be applied is the law of the state of incorporation.

For example, if a corporation is incorporated in Delaware and a dispute arises between the corporation and its shareholders, the court will apply Delaware law to resolve the dispute. This doctrine applies in the majority of states, but in some states like California and New York, foreign corporations must meet state-law requirements in specified circumstances.

The internal-affairs doctrine is important because it helps to ensure consistency in the application of corporate law. It allows corporations to know which laws will govern their internal affairs, regardless of where they do business.

internal act | internal affairs of a foreign corporation

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
LSD+ is ad-free, with DMs, discounts, case briefs & more.