Avowed Business Purpose Test

Avowed Business Purpose Test

Definition

An analysis of corporate opportunity that examines how closely the opportunity is associated with a corporation’s existing and prospective activities based on a corporation’s existing contractual rights, the corporation’s business purpose and current activities, and the corporation’s existing areas of competence and capabilities. It is a variation of the line of business test.

Get full access FREE

With a 7-Day free trial membership
Here's why 735,000 law students have relied on our key terms:
  • A complete online legal dictionary of law terms and legal definitions
  • Over 7,900 key terms written in plain English to help you not only understand the law but master it
  • The premier online law dictionary built specifically for law students
  • Easy access in class or on the go, accessible both online and through the Quimbee mobile app
  • Reliable - written by legal professors and practitioners
  • Get instant access to all related rules of law to any specific key term with a Quimbee Study Aid plan

Get full access FREE

With a 7-Day free trial membership