This document should be recorded in the county in which the judgment was rendered and acknowledged before a notary public. A satisfaction can be executed, acknowledged and filed by the attorney of record for the holder, but only if payment is made in full.
Florida Business Judgment Rule
State:
Florida
Control #:
FL-00744BG
Format:
Word;
Rich Text
Instant download
Description
How to fill out Florida Satisfaction Of Judgment?
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FAQ
There are certain instances in which director decisions can end up in the courts. For example, a director sells a company asset to a family member for an unjustifiably low price. This would be an example of self-dealing that the rule would not insulate from prosecution.
Generally, the business judgment rule prevents courts from calling directors to account for either their actions or inactions, regardless of how poor their judgment is determined to be.
Under this standard, a court will uphold the decisions of a director as long as they are made (1) in good faith, (2) with the care that a reasonably prudent person would use, and (3) with the reasonable belief that the director is acting in the best interests of the corporation.
The Business Judgment Rule [1] Officers and directors must make decisions that they believe, in good faith, to be in the best interests of their companies and must make decisions after appropriate research and due diligence inquiries. The decisions must be the products of appropriate care and thought.
Under this standard, a court will uphold the decisions of a director as long as they are made (1) in good faith, (2) with the care that a reasonably prudent person would use, and (3) with the reasonable belief that the director is acting in the best interests of the corporation.
