The recent story involving Elon's compensation package has also put into question how seriously Delaware upholds business contracts.

I'm sorry but what?

Delaware law exclusively protects the interests of the board of directors. It allows for a unique provision - the hilariously misnamed "Shareholders Rights Plan" that enable a board of directors to issue shares as they please, in order to make sure every attempt at takeover isn't against the interests of the directors.

The only check on the power of the board in a Delaware corporation is the Delaware court of chancellery.