Foss v Harbottle (1843) 67 ER 189 is a leading English precedent in corporate law. In any action in which a wrong is alleged to have been done to a company, the proper claimant is the company itself. This is known as "the rule in Foss v Harbottle", and the several important exceptions that have been developed are often described as "exceptions to the rule in Foss v Harbottle". Amongst these is the 'derivative action', which allows a minority shareholder to bring a claim on behalf of the company. This applies in situations of 'wrongdoer control' and is, in reality, the only true exception to the rule. The rule in Foss v Harbottle is best seen as the starting point for minority shareholder remedies.
Read more about Foss V Harbottle: Facts, Judgment, Developments, Exceptions To The Rule
Famous quotes containing the word foss:
“There are hermit souls that live withdrawn
In the place of their self-content;
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In a fellowless firmament;
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Where highways never ran—”
—Sam Walter Foss (1858–1911)