This article reviews recent developments in the law affecting Virginia businesses and corporations. Part I covers judicial developments, including: (1) the United States Supreme Court\u27s upholding of the validity of an Indiana anti-takeover statute, similar to Virginia\u27s affiliated transactions provisions; (2) the Virginia Supreme Court\u27s ruling that the providing of day care in one\u27s home constitutes a business pursuit within the meaning of a standard exclusionary clause found in homeowners\u27 insurance policies; and (3) in what appears to be a case of first impression before any Virginia court, a Virginia circuit court\u27s invalidation of a stock option granted by the board of directors of a corporation to its majority stockholder (and the stockholder\u27s wife) for past services performed. Part II covers legislative developments, including the amendments enacted by the 1987 Virginia General Assembly to the Virginia Stock Corporation Act (Revised Act), such as the limiting of corporate officers\u27 and directors\u27 exposure to personal liability in certain circumstances
