{"version":"1.0","provider_name":"Voices at Temple","provider_url":"https:\/\/www2.law.temple.edu\/voices","title":"The Life (and Death?) of Corporate Waste - Voices at Temple","type":"rich","width":600,"height":338,"html":"<blockquote class=\"wp-embedded-content\" data-secret=\"YXB1J40KfR\"><a href=\"https:\/\/www2.law.temple.edu\/voices\/life-death-corporate-waste\/\">The Life (and Death?) of Corporate Waste<\/a><\/blockquote><iframe sandbox=\"allow-scripts\" security=\"restricted\" src=\"https:\/\/www2.law.temple.edu\/voices\/life-death-corporate-waste\/embed\/#?secret=YXB1J40KfR\" width=\"600\" height=\"338\" title=\"&#8220;The Life (and Death?) of Corporate Waste&#8221; &#8212; Voices at Temple\" data-secret=\"YXB1J40KfR\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" class=\"wp-embedded-content\"><\/iframe><script type=\"text\/javascript\">\n\/* <![CDATA[ *\/\n\/*! This file is auto-generated *\/\n!function(d,l){\"use strict\";l.querySelector&&d.addEventListener&&\"undefined\"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!\/[^a-zA-Z0-9]\/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret=\"'+t.secret+'\"]'),o=l.querySelectorAll('blockquote[data-secret=\"'+t.secret+'\"]'),c=new RegExp(\"^https?:$\",\"i\"),i=0;i<o.length;i++)o[i].style.display=\"none\";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute(\"style\"),\"height\"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):\"link\"===t.message&&(r=new URL(s.getAttribute(\"src\")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener(\"message\",d.wp.receiveEmbedMessage,!1),l.addEventListener(\"DOMContentLoaded\",function(){for(var e,t,s=l.querySelectorAll(\"iframe.wp-embedded-content\"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute(\"data-secret\"))||(t=Math.random().toString(36).substring(2,12),e.src+=\"#?secret=\"+t,e.setAttribute(\"data-secret\",t)),e.contentWindow.postMessage({message:\"ready\",secret:t},\"*\")},!1)))}(window,document);\n\/\/# sourceURL=https:\/\/www2.law.temple.edu\/voices\/cms\/wp-includes\/js\/wp-embed.min.js\n\/* ]]> *\/\n<\/script>\n","thumbnail_url":"https:\/\/www2.law.temple.edu\/voices\/cms\/wp-content\/uploads\/2017\/01\/money-case-163495.jpg","thumbnail_width":1920,"thumbnail_height":1280,"description":"At first glance, corporate law\u2019s waste doctrine makes little sense. The classic definition of waste\u2014a transaction \u201cfor consideration so disproportionately small as to lie beyond the range at which any reasonable person might be willing to trade,\u201d an act equivalent to \u201cgift\u201d or \u201cspoliation\u201d of corporate assets\u2014suggests that waste should never arise, for what corporation would ever enter into a transaction so absurd, absent self-dealing or gross negligence? Yet waste claims are regularly made. The conventional wisdom is that waste claims never succeed; but empirical studies show that\u2019s wrong, and some of the most significant corporate law cases of the last two decades have dealt with waste. Respected judges have called for the doctrine\u2019s abolition, referring to it as a \u201cvestige\u201d and memorably deriding it as the mythical \u201cLoch Ness Monster\u201d of corporate law; still, waste survives. It is a remnant of ultra vires, a doctrine proclaimed dead for over a hundred years\u2014but waste is not dead. It confounds our model of managerial responsibility; after decades in which discussion of directors\u2019 and officers\u2019 duties have &hellip;"}