Law Commons^™

Recent Cases, Law Review Staff

Vanderbilt Law Review

Constitutional Law--Armed Forces--Courts-Martial Jurisdiction over Military Personnel Limited to Service--Connected Offenses

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Constitutional Law--Desegregation--Public Housing Authority Required to Build Most Units in White Neighborhoods

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Constitutional Law--Double Jeopardy--Fifth Amendment's Guarantee against Double Jeopardy is Applicable to the States through the Fourteenth Amendment

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Constitutional Law--Garnishment--Prejudgment Wage Garnishment, in Absence of Conditions Requiring the Special Protection of a State or Creditor Interest, Violates the Due Process Clause of the Fourteenth Amendment

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Constitutional Law--State Taxation--State Use Tax Invalidly Applied to Fuel Gas Used as an Integral Part of Interstate Commerce

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Corporations--Corporate Director Accountable to Corporation Under State Law for Profits …

Bank Merger Policy And The Third National Bank Decision, Benjamin J. Klebaner

Vanderbilt Law Review

As measured by regional standards, banking in Tennessee's capital for years centered around three very large institutions and one of middle size. The latter, Nashville Bank and Trust Company(hereinafter Nashville Bank), merged into Third National Bank (the second largest bank in the area) in August, 1964, after the Justice Department failed to secure a preliminary injunction blocking the merger. This left Davidson County (the county in which Nashville is located) with seven banks, four of which were quite small. Nashville Bank was less than one-fourth the size of third-ranking Commerce Union Bank, but almost seven times as large as the …

Recent Cases, Law Review Staff

Vanderbilt Law Review

Corporations--Equity--Specific Performance of Stock Option Granted Because of Tax Advantage Feature of Option

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Property--Landlord-Tenant--Rabbinical Court Establishes Far-Reaching Standard of Landlords' Obligations to Tenants

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Taxation--Federal Estate Taxation--Under Treasury Regulation Section 20.2031-8(b), Value of Shares in Mutual Funds Is Public Offering Price on Date of Death Rather Than Redemption Price

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Taxation--Mineral Rights--Carried Interest Loses Deduction for Depletion, Depreciation, and Intangible Drilling Costs During Recoupment

Gallagher Revisited: The Functionally Unrelated Corporate Reorganization, William D. Lipkind

Villanova Law Review

No abstract provided.

Multiple Corporations Under The Revenue Act Of 1964, James T. O'Hare

Vanderbilt Law Review

It is a maxim of taxation that where graduated tax rates are imposed on the income of a legal entity, tax avoidance in the form of income splitting will be attempted. This has proven true in the case of individuals' and trusts, and has more recently become true of corporations. For over a decade the law governing the tax status of affiliated corporations has been developing. The Revenue Act of 1964 introduces several important changes in the federal income tax treatment of multiple corporations. The purpose of this note is to examine the tax status of multiple corporations both before …

Corporations -- Effect Of Statements Made In Stock Prospectus, Law Review Staff

Vanderbilt Law Review

In the case of United Funds, Inc. v. Carter Products, Inc.,' the City Circuit Court of Baltimore, Maryland, handed down a decision which" broke new legal ground." The case, involving the effect of statements made in stock prospect uses on a corporation's future actions, has provoked surprisingly little discussion by legal commentators, and none at all on the "new" ground it broke. The purpose of this comment is to examine the Carter Products decision, to attempt to place it in proper legal perspective, and finally to evaluate it as a new development in the law.

Legislation, Law Review Staff

Vanderbilt Law Review

Admission to the Bar--Legal Profession--Residence Requirements for Student Applicants to the Bar

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Corporations--Bylaws--Allocation of Power Between Shareholders and Directors

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Courts--Administration of Justice--Restricting the Appellate Jurisdiction of Courts of Last Resort

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Nonprofit Corporations--Definition

Tax And Other Legal Aspects Of The Corporate Practice Of Medicine, Jerry B. Martin

Vanderbilt Law Review

With the coming of regulations allowing doctors the tax advantages of corporate employees, the doctors will probably be more solidly behind the positions of the AMA in favor of the prohibition against the corporate practice of medicine. For example, at least one state group, the Tennessee State Medical Association, has recently adopted a resolution against practicing medicine in the corporate form, and there have been no recent reports of state associations taking the opposite position. The American Hospital Association which seems to lead the opposition to the corporate practice rule does not attack the rule as being intrinsically bad but …

The Tax Treatment Of Collapsible Corporations, Boris I. Bittker

Vanderbilt Law Review

Introductory.-Section 331 (a) (1) of the Internal Revenue Code provides that a complete liquidation of a corporation is to be treated by the shareholder as a sale of his stock, which will ordinarily produce capital gain or loss, and section 334 (a) provides that the shareholders' basis for property acquired on the liquidation is its fair market value at the time of distribution. These rules, which are of long standing, led to the tax avoidance device known as the "collapsible corporation," which in its turn led,in 1950, to the enactment of what is now section 341. As will be seen, …

Subchapter S And Its Effect On The Capitalization Of Corporations, Mortimer M. Caplin

Vanderbilt Law Review

Our federal tax laws encourage the creation of complex capital structures. "Thinning" capitalizations by issuing corporate indebtedness offers well known tax advantages to both shareholder and corporation.' Also, since 1954, issuing preferred stock on incorporation is a standard procedure for side-stepping the "bail-out" prohibitions of code section 306. A "good" capitalization from a tax viewpoint, therefore, will often involve a small base of common stock, a heavier layer of preferred stock and as much debt as the tax adviser believes will be given tax recognition.

Recent Cases, Law Review Staff

Vanderbilt Law Review

In a hearing before the Commissioner of Investigation of the City of New York, appellant refused to state whether he was then a member of the Communist Party and based his refusal to answer on the fifth amendment to the United States Constitution. He was thereafter discharged as an employee of the New York Transit Authority pursuant to provisions of the New York Security Risk Law' which allows dismissal of employees of security agencies who are found to be of "doubtful trust and reliability." Without seeking administrative remedies, appellant brought a proceeding in the state court for reinstatement contending that …

Fiduciary Duty Owed Creditors By Director Of Insolvent Corporation

Indiana Law Journal

Recent Cases: Corporations

Business Organizations, Ben F. Small Jr.

Indiana Law Journal

No abstract provided.

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 …