# kaal:claim:3017612-003

**Claim.** Although shareholder agreements are authorized and shaped by corporation code provisions, their construction is governed by ordinary contract interpretation rules, so statutory authorization does not displace contract doctrine.

**Type.** mechanism  **Support.** evidenced

**Holds when.**

- United States, Delaware law illustrated by Salamone v. Gorman

**Source quote.**

> While the agreements are governed by legislation, general rules applicable to contract interpretation govern the construction of shareholder agreements.

**From.** Wulf A. Kaal, *Shareholder Agreements - National Report of the United States of America* (2017), II. Regulation of Shareholders' Agreements, page 2

**Cite as.** Wulf A. Kaal, Shareholder Agreements - National Report of the United States of America (2017). SSRN: https://ssrn.com/abstract=3017612

**Verify.** sha256 of source PDF `33821db406f92efbe1698fbaed37687595c13b7ce5463b4a879df679fd4af1ac` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202017%20-%20Shareholder%20Agreements%20-%20National%20Report%20of%20the%20United%20States%20of%20America.pdf

**Topics.** corporate-governance

**Keywords.** contract-interpretation, shareholder-agreements, delaware, statutory-authorization

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