For any organization, there are rules and regulations that guide its day today running. There could be different debates about who should make the rules such as rules on proxy access, rules on executive compensation, rules or even rules on fiduciary duties. In this paper, we are going to refer to case laws and statute laws to explain the meaning of corporate governance. These laws can generally be referred to as corporate law and they deal with the rules that govern corporations, companies, and other organizations. Am also going to give examples and how these laws apply. (Sanjay 150-156) Statute laws will be determined by the government agencies like the judges. For example, a federal government may impose the same statutory standard to govern all public corporations in a country or region. This standard should be interpreted by the judges and in any case of misunderstanding between the parties of the corporation, then the judicial system decides. A statutory standard may require all the corporations to separate at all times the chairman and the chief executive officer, to give more power to the share orders, for example in the Delaware’s chartered corporations, the law of the corporation empowers the directors to manage the corporation. However there are limits that are described by the enabling statute. These limits state that the share orders can amend the bylaws, the shareholders must vote to vote to approve certain transactions, shareholders have the power to elect directors, and so many other laws that are statutory laws but which govern the corporation. When ever a state passes a law to govern corporations, the Corporations are supposed to adopt them. A good illustration is the case of proxy access law in all Delaware chartered corporations. The state has a law in the august -1 statute which is a flexible enabling statute liberally allowing full reimbursement if the corporation so wishes. This is a statute law that governs all the corporations in Delaware and in case of any problems, this statute will be used. There is also a provision that each corporation may have its own internal governance structure. (Robert 90-97) Case laws on the other hand are the body of available writings which will be used to give out verdicts on related cases. Case laws can also be referred to as common laws. How are they applied? Whenever a case occurs in a corporation, and then the case is taken to court, the judges can use the records of the previous case to determine the verdict. The case laws might not be applied as rigidly as they were when they were used. A judge who sets to use such laws must produce a written opinion that justifies the facts that the judge finds, the principles of law that the judge believes applies, and an analysis of the relationship between those principles and facts. (Robert 90-97) The best thing with common laws or the advantage of case laws is that one can look at the real life situation about the dispute. For example, when there is a dispute between the directors and the shareholders due to an action of the directors, the shareholders pleads of complain can be seen, the principles of fiduciary duty of loyalty can then be applied, facts are given, and then a law is developed.