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Summaries and analysis of recent Delaware court decisions concerning business-related litigation.
Morris James Blogs
Court Of Chancery Interprets Contract Rights Under Commercially Rational Test
This decision on a undisputed factual record interpreted a contractual right to put stock by rejecting one side’s argument as “commercially irrational.” It also held that the valid exercise of the put made the holder a creditor of the company entitled to enforce the put against the surviving party of a merger.