The mandatory determination of the Corporate Purpose: An outdated rule

Authors

  • Alfonso Montoya Stahl Pontificia Universidad Católica del Perú

    Abogado por la Pontificia Universidad Católica del Perú (PUCP). Socio de Rodrigo, Elías & Medrano Abogados. Miembro
    extraordinario de la Asociación Civil IUS ET VERITAS.
  • Fernando Loayza Jordán Pontificia Universidad Católica del Perú

    Bachiller por la Pontificia Universidad Católica del Perú (PUCP). Miembro extraordinario de la Asociación Civil IUS ET
    VERITAS.

Keywords:

Corporate purpose, Ultra Vires actions, General Corporations Law, Shareholders’ Interests, Public Interest

Abstract

The authors discussed on the alleged utility as well as the drawbacks of the mandatory determination of corporate purpose. They analyze and criticize the required characteristics of the corporate purpose by the Peruvian corporate regulation as well as the alleged benefits of making mandatory its determination. The authors propose the elimination of the obligation to determine the corporate purpose in order to give corporations freedom to configure their economic activity without being limited by an outdated rule.

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Published

2015-11-23

How to Cite

Montoya Stahl, A., & Loayza Jordán, F. (2015). The mandatory determination of the Corporate Purpose: An outdated rule. IUS ET VERITAS, 24(51), 156–172. Retrieved from https://revistas.pucp.edu.pe/index.php/iusetveritas/article/view/15658

Issue

No. 51 (2015)

Section

Artículos

License

Copyright (c) 2016 IUS ET VERITAS

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.