Law Commons^™

Note And Comment, Gordon W. Stoner, Newton K. Fox, Walle W. Merritt, Albert E. Meder

Michigan Law Review

The Power of a Court to Compel a jury to Render its Verdict in Accordance with a Peremptory Instruction; The Liability of Municipal Corporations in the Discharge of Public or Governmental Duties and of Private or Corporate Duties; Some views of the Nature and Effect of Corporateness; Mitigation of Damages or Substituted Contract; Limitation of the Amount of a Carrier's Liability

Note And Comment, Walle W. Merritt, Albino Z. Sycip

Michigan Law Review

Death of Gustav Stein; "Unenforcible Trusts" Made Enforcible by Statute; What Becomes of the Real Property of An Eleemosynary Corporation Upon its Dissolution?; Crossed Checks in England, and an American Analogy;

The Corporation Tax Decision, Ralph W. Aigler

Articles

Seldom, if ever, in the history of the country has the Supreme Court been called upon within a comparatively short period of time to decide so many questions of widespread interest and vital importance as has been the case during the last year or two. Attempts on the part of the state and national governments to regulate and control corporations, which in recent years have come to exercise such a large and not always wholesome influence upon affairs generally, have been the occasion for the consideration by the court of many of the important cases recently presented. Among these are …

The Passing Of State Control Over Railway Rates, Edson R. Sunderland

Articles

Congress has exclusive power to regulate interstate commerce, so far as it admits of a uniform system of regulation, and a failure on its part to regulate in a given case is tantamount to a declaration that such commerce shall remain free and unrestricted. Brown v. Houston, 114 U. S. 622; Leisy v. Hardin, 135 U. S. 100. The states are, in all such cases, without jurisdiction to regulate, irrespective of what Congress has or has not done.

The Standard Oil Decision: The Rule Of Reason, Horace Lafayette Wilgus

Articles

After twenty-one years the Sherman Anti Trust Act has been applied to the typical combination restraining interstate commerce, which that act was designed to prevent.

The Constitutionality Of The Federal Corporation Tax, Ralph W. Aigler

Articles

During the special session of Congress held the past summer there was enacted as an amendment to the new Tariff Law what is generally known as the Federal Corporation Tax.1 At the time of its consideration in Congress and since its enactment there has been considerable discussion regarding the constitutionality of the measure, and no little doubt has been expressed as to its validity.

Interstate Commerce And State Control Of Foreign Corporations, Ralph W. Aigler

Articles

Corporations are the creatures of their parent state and outside the borders of the state creating them they have no existence except such as is granted them by comity. Bank of Augusta v. Earle, 13 Pet. 519; Lafayette Ins. Co. v. French, 18 How. 404; Paul v. Virginia, 8 Wall. 168; Ducat v. Chicago, 10 Wall. 410; Liverpool Ins. Co. v. Massachusetts, 10 Wall, 566; Home Ins. Co. v. Morse, 20 Wall. 445; Horn Silver Mining Co. v. New York, 143 U. S. 305; Waters-Pierce Oil Co. v. Texas, 177 U. S. 28; Security Mut. L. I. Co. v. Prewitt, …

Corporation Liens On Stock, Edson R. Sunderland

Articles

At common law a corporation had no lien upon its stock for assessments unpaid or for debts due it from its shareholders.6 There are therefore but four possible methods by which liens could be created in favor of the corporation upon the stock which it issues, (i) by statute, (2) by charter, (3) by by-law, (4) by contract.

Liability Of Water Companies For Losses By Fire In Actions Of Tort, Ralph W. Aigler

Articles

In Fisher v. Greensboro Water Supply Company, 128 N. C. 375, it was held that the defendant water company was liable in damages in an action of tort for negligent failure to furnish sufficient water pressure in the mains of the city, by reason of which negligence the plaintiff's house was burned. The only duty on the part of the defendant to furnish water grew out of a contract made by the company with the city and the fact that the defendant had entered upon the business of supplying water pursuant to such contract.

Purchase Of Shares Of Corporation By A Director From A Shareholder, Horace Lafayette Wilgus

Articles

It is generally laid down in the encyclopedias and text books, and affirmed in many court opinions that "the doctrine that officers and directors [of corporations] are trustees of the stockholders, applies only in respect to their acts relating to the property or business of the corporation. It does not extend to their private dealings with stockholders or others, though in such dealings they take advantage of knowledge gained through their official position."1 Much of this doctrine is based upon the language of Chief Justice SHAW in Smith v. Hurd2 decided in 1847. He said: "There is no legal privity, …

Right Of Joint Adventurers Holding All The Stock Of A Corporation To A Dissolution And Accounting In Equity, Horace Lafayette Wilgus

Articles

The case of Jackson v. Hooper, in the New Jersey Court of Errors and Appeals, decided February 28, 1910, by Judge DILL, (42 N. Y. Law Journal, March 8, 1910), overruling Vice Chancellor HOWELL, of the Court of Chancery (74 AtL. 130) presents interesting and unusual points in corporation and partnership law, and the jurisdiction of courts of equity over corporate affairs.

State Regulations Affecting Interstate Commerce, Horace Lafayette Wilgus

Articles

The line between regulations of intrastate and interstate commerce is difficult to draw and hard to maintain. This is well illustrated in the recent case of St. Louis Southwestern Railway Company v. Arkansas, decided by the Supreme Court of the United States April 4, 1910, Advance Sheets, May I, 1910, p. 476, 30 Sup.Ct. 476.

What Is Interstate Commerce?, Horace Lafayette Wilgus

Articles

In the case of International Text-book Company v. Pigg, Advance Sheets May 1, 1910 (30 Sup. Ct. 481) the Supreme Court of the United States, decided April 4, 1910, that a "corporation engaged in imparting instruction by correspondence, whose business involves the solicitation of students in other states by local agents, who are to collect and forward to the home office the tuition fees, and the systematic intercourse between the corporation and its scholars and agents, wherever situated, and the transportation of the needful books, apparatus, and papers," is engaged in interstate commerce, and a state statute which makes the …

Valuing Property And Franchises Of Public Service Corporations For Fixing Rates, Horace Lafayette Wilgus

Articles

The Supreme Court of the United States has recently decided two important cases relating to the proper valuation of the property of public service corporations for the purpose of fixing rates to be charged for their services. These are Knoxille v. Knoxville Water Company, 211 U. S.--. 29 S. C. 148, and Willcox Y. Consolidated Gas Co.. -- U. S. --. 29 S. C. 192,a both decided January 4, 1909.

Limited Partnership In America And England, Francis M. Burdick

Michigan Law Review

At last Great Britain has legalized Limited Partnership. More than a quarter of a century ago, Sir Frederick Pollock called attention to the fact that the United Kingdom was almost the only civilized country of the world which had not adopted this institution. The remark was made in an address devoted to an explanation of a bill, which he had drafted, to cover the entire subject of partnership. Long before this, the economical advantages of limited partnership had been set forth by John Stuart Mill and other writers; and repeated attempts had been made to secure a statute legalizing this …

The Investigation Of Corporate Monopolies, Edson R. Sunderland

Articles

The Supreme Court of the United States has recently given a clear and brief statement of its views respecting the right of a corporation officer to refuse to testify on the ground that his testimony may subject the corporation to a criminal prosecution. Hale v. Henkel, 26 Sup. Ct. Rep. 370. Hale was summoned before a grand jury in a proceeding under the Sherman anti-trust act, and upon being interrogated respecting certain transactions of the MacAndrews & Forbes Co., of which he was Secretary and Treasurer, refused to answer, on the ground that the Federal immunity law was not broad …

Liability Of Water Companies For Fire Losses, Edson R. Sunderland

Articles

In two recent articles published'in this Review, the question of the liability of water companies for fire losses was somewhat exhaustively discussed. The majority of the actions wherein it has been sought to hold water companies liable for fire losses suffered by private property owners, have been brought for breach of contract. In a few cases the theory adopted was that the water company owed a duty to all property owners, by reason of the public character of its service; and the fact that it was under contract with the city to furnish an adequate water supply and pressure for …

Cases On The Law Of Partnership, Floyd R. Mechem, Frank L. Sage

Books

Note to First Edition [1896]: "The following collection of cases has been made primarily for use in connection with the writer's lectures on Partnership in the Law School of this University and to accompany his 'Elements of Partnership' recently published."

Note to Third Edition: "In this edition the number of cases has again [from Second Edition] been considerably increased." F.R.M. ... October 1, 1905

Federal License Or National Incorporation, Horace Lafayette Wilgus

Articles

The message of President Roosevelt and the Report of Mr. Garfield as Commissioner of Corporations, if we are not mistaken, have done, or will do, more than all the discussion of the past several years to clear the vision of the people as to what is necessary and possible to do in the way of meeting and overcoming our industrial and commercial corporation difficulties.

Need Of A National Incorporation Law, Horace Lafayette Wilgus

Articles

When the report of the Committee on Uniformity of legislation was submitted to the last American Bar Association, and consideration of the legal problems growing out of modem commercial combinations, was urged as a matter proper for discussion and action by that association, it was gravely argued by distinguished lawyers present that there was no legal problem to be solved. The Committee on Commercial Law, however, thought otherwise and said:- "The American people look to the American Bar for leadership on this question. Some one must lead. If not the lawyer, then it will be the demagogue."

A Proposed National Incorporation Law, Horace Lafayette Wilgus

Articles

In an article in the February number of this magazine' the writer discussed the nee& of a national incorporation law. The following is proposed as such; its object is to set forth what, perhaps, may be possible under such a law; what some will think necessary or desirable; what some will think unnecessary and undesirable; and what others will undoubtedly think is all wrong, if not vicious.

A Proposed National Incorporation Law, Horace Lafayette Wilgus

Articles

In an article in the February number of this magazine1 the writer discussed the need of a national incorporation law. The following is proposed as such; its object is to set forth what, perhaps, may be possible under such a law; what some will think necessary or desirable; what some will think unnecessary and undesirable; and what others will undoubtedly think is all wrong, if not vicious. Whatever view is taken the writer's purpose will be accomplished if consideration and discussion of the proper details of such a law, are provoked. There are two classes who desire a national incorporation …

A National Incorporation Law, Horace L. Wilgus

Books

Horace L. Wilgus argues that corporations need to be regulated on the national level.

Need Of A National Incorporation Law, Horace Lafayette Wilgus

Articles

When the report of the Committee on Uniformity of Iegislation was submitted to the last American Bar Association, and consideration of the legal problems growing out of modem commercial combinations, was urged as a matter proper for discussion and action by that association, it was gravely argued by distinguished lawyers present that there was no legal problem to be solved.

The Northern Securities Decision, Horace Lafayette Wilgus

Articles

March 14 the Supreme Court of the United States decided one of the most important cases that has been before it for a number of years. The litigation referred to is the Northern Securities case. The question involved was whether the control of the Great Northern and Northern Pacific railway companies through the ownership of the majority of the stock of each of those companies by the Securities company violated the national anti-trust act. The majority of the Supreme Court held it did, but four of the judges dissented.

Cases On The Law Of Partnership, Floyd R. Mechem, Frank L. Sage

Books

A casebook with selected cases to aid the teaching of partnership law.

United States Steel Bond Conversion, Horace Lafayette Wilgus

Articles

The litigation growing out of the plan of the United States Steel Corporation to retire $200,000,000 of its preferred stock by issuing bonds therefor has involved many interesting questions under the New Jersey law.

Northwestern Railway Situation, Horace Lafayette Wilgus

Articles

What promises to be the most important corporate litigation that has or is likely to come before the Supreme Court for many years is involved in the various suits against the Northern Securities Company. To understand its full significance, it is desirable to recall something of the railroad history of the western states.

Northwestern Railway Situation, Horace Lafayette Wilgus

Articles

What promises to be the most important corporate litigation that has or is likely to come before the Supreme Court for many years is involved in the various suits against the Northern Securities Company. To understand its full significance, it is desirable to recall something of the railroad history of the western states.

Cases On The General Principles Of The Law Of Private Corporations, Volume 2, Horace L. Wilgus

Books

In the first volume, and in the first two titles of the second volume, are considered the doctrines relating to the birth, life, powers, acts, obligations, and death of a corporation, effort being made to get a view of the general principles of the whole.

This second volume, with the exception of the first two titles, deals with the Corporation as a Subject and Source of Peculiar Rights and Obligations in its twofold aspect of Corporate Relations and Individual Relations.