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 "identifier": "kaal:claim:3017612-004",
 "text": "Shareholder agreement terms that limit board authority are vulnerable to invalidation, and the dominant judicial rationale is that such agreements tie the hands of directors and make it impossible for them to exercise discretion over the matters the agreement settles.",
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0009-0008-7840-1847"
 },
 "citation": "Wulf A. Kaal, Shareholder Agreements - National Report of the United States of America (2017). SSRN: https://ssrn.com/abstract=3017612",
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  "name": "Shareholder Agreements - National Report of the United States of America",
  "datePublished": "2017",
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 "keywords": [
  "corporate-governance"
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  "board-authority",
  "sterilization",
  "director-discretion",
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 "abstract": "Courts offer varying rationales for nullifying terms of shareholder agreements that limit the board's authority, but most often, courts worry the agreements \"tie the hands of the directors,\" making it impossible for them to exercise their discretion concerning matters decided in the agreement.",
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