5.7 Corporations

• Library: Virginia Law and Practice: A Handbook for Attorneys (Virginia CLE) (2020 Ed.)

5.7 CORPORATIONS

In a civil case regarding the validity of a corporate loan, different choice-of-law rules apply, depending on the nature of the plaintiffs' claims: (i) for derivative claims, Virginia provides by statute that the law of the state of incorporation governs issues of standing and grounds for dismissal; ⁵⁴ (ii) for direct claims, Virginia substantive and procedural law applies, since

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Virginia follows the rule of lex loci: the place of the wrong determines the substantive law to be...