Q: What does the term oppression mean?
oppression: no clear law in Texas
1. maj. owes a FD to the corporation
2. maj. owes a FD to min. SH’s only if there is another basis of duty (e.g. confidential relationship – something more than the usual relationship of two parties starting a corp.)
3. one Tex App Ct orderd buy-out for “oppression” (see above)
examples: squeeze out; mismanagement; fraud; illegality
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