Voluntary waste

Definition
: waste caused by the intentional commission of a destructive act by a tenant
2  : a reduction of the value of assets (as in a trust) caused by a failure to exercise proper care or sound judgment in managing them
esp
: a transfer of corporate assets (as through excessive executive compensation or a merger) for no legitimate business purpose or for less than what a person of ordinary sound business judgment would consider to be adequate consideration <the essence of a claim of ~ of corporate assets is the diversion of corporate assets for improper or unnecessary purposes ­Michelson v. Duncan, 407 A.2d 211 (1979)>
Waste injures the interests of shareholders.



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Based on Merriam-Webster's Dictionary of Law ©2001.
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administrative law judge

an officer in a government agency with quasi-judicial functions including conducting hearings, making findings of fact, and making recommendations for resolution of disputes concerning the agency’s actions


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