Consistent with Delaware's commitment to maintaining statutes that are state-of-the-art with respect to business entities, including statutory trusts, the Delaware Statutory Trust Act was amended on July 15, 2010.

On July 12, 2010, Governor Markell signed into law House Bill 475, which makes certain technical amendments to the Delaware Uniform Common Interest Ownership Act.

On June 10, 2010, Governor Markell signed into law two bills that have a significant effect on developers of residential communities in Delaware.

The Delaware General Assembly has recently enacted legislation amending the Delaware Limited Liability Company Act (DLLCA), the Delaware Revised Uniform Limited Partnership Act (DRULPA) and the Delaware Revised Uniform Partnership Act (DRUPA).

The U.S. Department of Labor clarified the definition of "son and daughter" under the Family and Medical Leave Act to ensure that an employee who assumes the role of caring for a child receives parental rights to family leave regardless of the legal or biological relationship to the child.

This is the short description.

In two recent Third Circuit opinions, the Court: (1) en banc overruled the controversial Frenville test and set a new standard as to when a “claim” arises, and (2) found an agreement containing a trademark license not to be executory, with a concurring opinion criticizing those courts following Lubrizol.

Significant amendments to the General Corporation Law of the State of Delaware (DGCL) have been introduced in Delaware’s General Assembly this year.

In In re CNX Gas Corp. Shareholders Litigation, C.A. No. 5377-VCL (Del. Ch. May 25, 2010), the Delaware Chancery Court attempted to clarify the standard applicable to controlling stockholder tender offers and mergers. 

Delaware case law has long discussed the directors' fiduciary duties of care and loyalty to the corporation and its stockholders in absolute terms.