Open Access. Powered by Scholars. Published by Universities.®
- Discipline
Articles 1 - 3 of 3
Full-Text Articles in Law
Stock Received In Lieu Of Salary By Stockholder-Employees Whose Proportionate Interest Remains Unchanged Is Taxable Income--Commissioner V. Fender Sales, Inc., Michigan Law Review
Stock Received In Lieu Of Salary By Stockholder-Employees Whose Proportionate Interest Remains Unchanged Is Taxable Income--Commissioner V. Fender Sales, Inc., Michigan Law Review
Michigan Law Review
Transactions involving forgiveness by stockholder-employees of corporate indebtedness are shrouded in legal uncertainty. The conflicting positions espoused by the Commissioner, the Tax Court, and the circuit court in the principal case focus attention on a few salient problems. The Commissioner, in arguing that the receipt of stock by the individual taxpayers constituted taxable income, considered the individuals solely as employees, believing it immaterial that they were also stockholders. Thus, he reasoned that when they, as employees, received stock in payment of their accrued salaries, they realized income. In contrast, the Tax Court viewed the individual taxpayers as stockholders who had …
Foreign Lienor Cannot Prevail In Ohio Against Subsequent Good Faith Purchaser Who Holds Ohio Certificate Of Title- Commercial Credit Corp. V. Pottmeyer, Michigan Law Review
Foreign Lienor Cannot Prevail In Ohio Against Subsequent Good Faith Purchaser Who Holds Ohio Certificate Of Title- Commercial Credit Corp. V. Pottmeyer, Michigan Law Review
Michigan Law Review
Williams purchased an automobile in West Virginia from plaintiff's assignor on a conditional sales contract. The security interest was duly recorded in West Virginia and noted on the certificate of title. Before paying any of the purchase price, Williams fraudulently procured another West Virginia certificate of title free of notice of liens. Relying on the fraudulent certificate, the defendant bought the car from Williams at an Ohio automobile auction and obtained an Ohio certificate of title. The plaintiff brought suit in Ohio to recover the vehicle and obtained a favorable judgment, which was affirmed by an Ohio court of appeals. …
The Federal Securities Act And The Locked-In Stockholder, Neil Flanagin
The Federal Securities Act And The Locked-In Stockholder, Neil Flanagin
Michigan Law Review
The Securities Act of 1933 is generally identified with Securities and Exchange Commission registration and the attendant disclosure for primary and secondary public offerings of securities. Because of the uncertain scope of the registration requirements, however, it has the practical effect of seriously restricting certain security holders in selling or dealing in their securities. Security holders so restricted may be underwriters themselves or persons considered to be underwriters for the particular transaction. The difficulties arise in determining which security holders are included within this class and which transactions by those parties are affected. It is to these problems that the …