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Insurance - Insurable Interest In Life - Right Of Insured To Designate Beneficiary Without Insurable Interest, William D. Sutton
Insurance - Insurable Interest In Life - Right Of Insured To Designate Beneficiary Without Insurable Interest, William D. Sutton
Michigan Law Review
The Metropolitan Life Insurance Company issued a group insurance policy in the sum of $500 upon the life of appellant's husband. The husband paid all the premiums and designated a niece, appellee, the beneficiary therein. Several years prior to the issuance of the policy appellant had ceased to live with the insured, although a divorce had never been obtained. Appellant contested the recovery of the proceeds by appellee on the ground that said niece had no insurable interest in the life of insured. Held, judgment of the trial court awarding proceeds to appellee affirmed, on the ground that appellee …
Taxation - Privilege Tax On Foreign Corporations - Due Process And Commerce Clauses - Validity Of Formula, James W. Deer
Taxation - Privilege Tax On Foreign Corporations - Due Process And Commerce Clauses - Validity Of Formula, James W. Deer
Michigan Law Review
The state of Texas levied an annual franchise tax on all corporations, both foreign and domestic, authorized to do business within the state. The tax was assessed on the basis of the amount of the total capital stock which was allocable to Texas, the allocation being based on the proportion that Texas gross receipts bore to total gross receipts. This formula, as applied to the Ford Motor Company, gave the statutory base of $23,000,000 on which Ford paid the tax under protest. The evidence showed that the Ford Motor Company had only an assembly plant in Texas worth $3,000,000, that …