Perlman v. Feldmann: A Case Study in Contemporary Corporate Legal History

Abstract

When I was a law student, taking a course in introductory corporate law, what was heard around the halls was that most of corporate law would be learned if one understood Perlman v. Feldmann. I agree with that statement, and I have agreed more strongly each year I myself have taught introductory corporate law. Indeed, I now believe one would also learn a good deal about the significance of the corporation in American life during the past two decades. Unfortunately, however, it seems to me-on the basis of having read everything of which I was aware concerning one of the most widely discussed cases of recent times-that very few lawyers understand the meaning of that decision.