Author: Umarova, Xolisxon Nomoz qizi

Annotation: The executive body has always occupied an important place in the corporations. Although the supreme governing body of corporations is the general meeting, the main business administration and management is under the control of the directors or collegial executive body of the corporation. The limitation of liability in corporations, the fact that the issue of liability for directors is not clearly defined, in some cases leads to the abuse of such rights by directors. Through this article, we discuss the issue of liability of directors for damages caused by the transactions made by the directors in corporations outside of their authority in accordance with the legislation of the Republic of Uzbekistan and foreign countries belonging to the civil and common law countries based on analysis.

Keywords: executive body, liability, fiction theory, fiduciary duty, bono fide.

Pages in journal: 500 - 512