Explanation of a recent decision in which the Delaware Court of Chancery reinforced the freedom of contract policy underlying Delaware's Limited Liability Company Act in resolving a dispute concerning a member's rights to inspect a limited liability company's books and records. The article illustrates three critical lessons for both drafters of LLC agreements and litigators.
May 20, 2008
Lewis H. Lazarus and Jason C. Jowers
Business Law Today, Volume 17, Number 5, May/June 2008