Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Law
Corporate Securities As "Business Property", Thomas G. Bost
Corporate Securities As "Business Property", Thomas G. Bost
Vanderbilt Law Review
Inadequacies of the statutory definition of "capital asset" have led the courts to develop the concept of "business property," which serves to distinguish everyday business activities from investment activities.This concept is now being applied by courts in a wide variety of factual situations involving corporate securities. However, unless objective, easily ascertainable limits to the "business property" concept are found, confusion and inconsistency may mark the development of future case law. The rules developed by the American Law Institute's Discussion Draft Study of Definitional Problems in Capital Gains Taxation appear to provide these objective limits. Because they are consistent with the …
Rights And Obligations In The Mutual Fund: A Source Of Law, James M. Anderson
Rights And Obligations In The Mutual Fund: A Source Of Law, James M. Anderson
Vanderbilt Law Review
The proposals of this note, the thrust of statutory regulation, the trend of the case law and the direction of recent developments are all consistent. In a practical sense, the suggestions here attempt to provide a reasonable source of law for the men of the industry and for the courts in search of an authoritative system of behavioral standards. If, for example, a mutual fund has enjoyed such vigorous growth that the percentage fee now charged by the advisers has lost its relevance to the actual cost of management, the disgruntled shareholder or the apprehensive director would seek information on …