1.3.2 Case study

Both the UK and US are common law countries. The whole idea of common law is to refer to precedent cases.1 This practice dates back to 13th century when royal judges began to keep a record of the reasoning based on which they had reached their decisions.2 Courts developed the practice of comparing a case that had to be adjudicated to previous cases to arrive at a decision.3 Therefore, how an article was construed by a previous court would influence the effect of this article as well as later decisions based on this article. Extensive case study was used to explore the appraisal and oppression/unfair prejudice remedy. Especially for the oppression remedy, legislators allow judges the discretion to determine what kind of shareholder conduct is actionable, so principles have to be drawn from case reviews.