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Business LibreTexts

23.1: Introduction: Corporate Powers and Management

  • Page ID
    11330
  • Learning Objectives

    After reading this chapter, you should understand the following:

    • The powers of a corporation to act
    • The rights of shareholders
    • The duties, powers, and liability of officers and directors

    Power within a corporation is present in many areas. The corporation itself has powers, although with limitations. There is a division of power between shareholders, directors, and officers. Given this division of power, certain duties are owed amongst the parties. We focus this chapter upon these powers and upon the duties owed by shareholders, directors, and officers.