Explanatory Notes for a Supreme Court judgment in which it was held that, in the case where a representative director of a stock company (Kabushiki-Kaisha) has consummated a transaction that falls within the execution of important operations without the resolution of a board of directors' meeting, a party other than the company may not claim that the transaction is invalid due to the lack of such resolution, unless there is a special circumstance, for example if the board of directors has passed a resolution to claim such invalidity (Supreme Court Judgment issued by the Second Petty Bench on April 17, 2009)
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Publication | The Rule of Law No. 158 [July 2010 issue] |
Issue | Jul 2010 |
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