![]() ![]() " We do not draw in question, nor do counsel for the plaintiffs do so, the validity of the general proposition stated by counsel⦠that although a manufacturing corporation cannot engage in humanitarian works as its principal business, the fact that it is organized for profit does not prevent the existence of implied powers to carry on with humanitarian motives such charitable works as are incidental to the main business of the corporation." Ford Motor Company (1919), the court said this in regards to Henry Ford's desire to reduce the price of his cars for his stated, purely altruistic, motives (and in doing so cancel a special dividend to his shareholders): Even in the most often cited case creating fiduciary responsibility to maximize profits, Dodge v. Public companies do NOT have a fiduciary duty to maximize profits, only to follow the company charter. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |