This Hornbook clarifies rather than simply recites corporation law, while paying attention to correcting common misconceptions held among students and attorneys about the subject. This book is also intended for courts and commentators seeking the appropriate resolution of issues of corporation law. It is written in a "user-friendly" style, with citations kept to a minimum. More than just an update, the Third Edition constitutes a significant expansion and refinement of the prior editions. Among the additions are thoughtful expositions on corporate rights, purpose and social responsibility and extended historical and comparative law discussions. There are also expanded and restructured discussions of policy and doctrine in areas ranging from mergers and acquisitions and securities regulation to corporate governance and the duties of directors and controlling shareholders. These enable the reader to both view corporate law in its broad policy framework at one end, while understanding the nuances of Delaware and U.S. Supreme Court decisions at the other.