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Full-Text Articles in Law
Corporations-Officers And Directors-Effect Of Statutes On Contracts Between Corporations With Common Directors, William K. Davenport S.Ed.
Corporations-Officers And Directors-Effect Of Statutes On Contracts Between Corporations With Common Directors, William K. Davenport S.Ed.
Michigan Law Review
Legislative policy-making on the subject of contracts between corporations having interlocking directorates has required a balancing of the interest of corporate enterprise in the flexibility of business relations against the interest of minority shareholders in protection against self-dealing by corporate managers.
Corporations-Membership Corporations-Voting Rights Under California Law, Howard Vanantwerp
Corporations-Membership Corporations-Voting Rights Under California Law, Howard Vanantwerp
Michigan Law Review
The original owner of a subdivision recorded a declaration of restrictions which provided that "the majority of the property owners within the subdivision may form . . . a non-profit cooperative corporation without capital stock, but with one share thereof appurtenant to each of the lots in such subdivision,'' to approve plans for building on these lots. Defendants acquired 133 lots and commenced construction of homes in spite of the disapproval of their plans by the association organized under the authority of the declaration. The two defendants claimed to have acquired majority control of the association, claiming 133 votes as …
Deeds - Effect Of Noncompliance With Statute Requiring Grantor To Set Forth In Deed Name Under Which He Derived Title, Mary Jane Morris
Deeds - Effect Of Noncompliance With Statute Requiring Grantor To Set Forth In Deed Name Under Which He Derived Title, Mary Jane Morris
Michigan Law Review
In a suit between plaintiff and defendant Girola Bros., plaintiff obtained a judgment and levied upon certain property. Plaintiff purchased the land at an execution sale and recorded the sheriff's deed conveying the property to him. Prior to the commencement of the action, defendant Girola Bros. had changed its name to Madalay, Inc., and under the latter name had conveyed the property, subsequently levied on by plaintiff, to defendant M. Girola, pending the action by plaintiff. This deed was recorded. It set forth Madalay, Inc., as grantor, but failed to set forth the name in which Madalay, Inc., derived title …
A Reappraisal Of Appraisal Statutes, Norman D. Lattin
A Reappraisal Of Appraisal Statutes, Norman D. Lattin
Michigan Law Review
Two recent cases, under two of the most carefully framed corporation statutes, have raised again the question of what to do with the shareholder who dissents from fundamental change in his corporation. The appraisal statutes were devised to meet this problem by giving the shareholder, in the limited number of fundamental changes stated in the statute, the right to demand the fair, cash or market value of his share and retire from the company. The statutes of two states have given him this right as almost the exclusive means of protecting his interest in the company if he is dissatisfied …
Charities - Corporation Organized For Political Purposes As A Charitable Organization, Charles R. Linton
Charities - Corporation Organized For Political Purposes As A Charitable Organization, Charles R. Linton
Michigan Law Review
A statute provided, in substance, that bequests in a will to charitable organizations may not collectively exceed one-third of the estate of a testator leaving heirs. Plaintiff, a legatee under a will, appealed from a decree which found the American Jewish Congress was not a charitable organization and therefore was entitled to the full sum bequeathed to it. Among the corporate purposes stated in the articles of incorporation were: (a) to further the development of the Jewish National Home in Palestine, and (b) to secure and maintain equality of opportunity for Jews everywhere. Held, decree reversed; although incorporated for …
Municipal Corporations-Constitutionality Of Municipal Debt Readjustment Act
Municipal Corporations-Constitutionality Of Municipal Debt Readjustment Act
Michigan Law Review
To avail itself of the remedial provisions of the National Bankruptcy Act as amended by section 80, the Imperial Irrigation District, a taxing district within the State of California, filed a petition for the readjustment of its debts. Pursuant to the requirements of section 80 the petition alleged that the District was unable to meet its debts and that a plan of readjustment had been accepted by 87.31 per cent of the creditors. Contestants, owners of petitioners' bonds, intervened. Held, section 80 of the National Bankruptcy Act as applied to the readjustment of the debts of an irrigation district …