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Guth v. Loft Inc.
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Guth v. Loft Inc, 5 A.2d 503, 23 Del. Ch. 255 (Del. 1939) is a Delaware corporation law case, important for United States corporate law, on corporate opportunities and the duty of loyalty. It deviated from the year 1726 rule laid down in Keech v Sandford[1] that a fiduciary should leave open no possibility of conflict of interest between his private dealings and the job he is entrusted to do.
Quick Facts Guth v. Loft Inc, Court ...
Guth v. Loft Inc | |
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Court | Delaware Court of Chancery |
Decided | April 11, 1939 (1939-04-11) |
Citation | 5 A.2d 503, 23 Del. Ch. 255 (Del. 1939) |
Court membership | |
Judges sitting | Daniel J. Layton, Richards, Rodney, Speakman, Terry |
Case opinions | |
Layton | |
Keywords | |
Directors' duties, conflicts of interest |
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