The Continued Role of the Common Law Indoor Management Rule Due Inquiry Exception
AbstractThe purpose of this paper is to consider the extent to which the common law Indoor Management Rule due inquiry exception applies in transactions ex post the introduction of s.l64(4)(b) of the Corporations Law. The paper will briefly outline the development of the indoor management rule within the Australian jurisdiction and consider the application of significant recent cases relevant to the due inquiry exception. The paper concludes with the view that the common law Indoor Management Rule operates in addition to the statutory Indoor Management Rule when considering transactions where an inquiry ought to have been made.
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