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Full-Text Articles in Law
Employee Stock Ownership Plans: An Analysis Of Current Reform Proposals, Luis L. Granados
Employee Stock Ownership Plans: An Analysis Of Current Reform Proposals, Luis L. Granados
University of Michigan Journal of Law Reform
This article surveys the battle between the critics and advocates of the ESOP, and scrutinizes various proposals currently being considered in the legislative arena. Part I examines the philosophy and history of the ESOP, particularly focusing upon the conceptual foundations provided by the writings of Louis Kelso. Part II explicates the various functions performed by the ESOP: as a tool of corporate finance, as an "in-house" market for the sale of stock held by a company's shareholders, and as a means of obtaining additional investment tax credit. Part III analyzes critically six proposed improvements of the ESOP system from both …
Toxic Substance Contamination: The Risk-Benefit Approach To Causation Analysis, Bradford W. Kuster
Toxic Substance Contamination: The Risk-Benefit Approach To Causation Analysis, Bradford W. Kuster
University of Michigan Journal of Law Reform
This article argues that the dilemma described above requires change and proposes a new standard for causation in this type of toxic contamination case. Part I examines the difficulties posed by conventional common law relief mechanisms, and the inadequacies of existing statutory relief mechanisms. Part II scrutinizes a more lenient burden of proof standard, the risk-benefit approach, which some courts have applied when faced with situations involving scientific uncertainties. The risk-benefit approach will be applied to causation analysis in the context of damage recoveries, using the. Hemlock, Michigan, situation as a case study. Part III discusses present congressional proposals, and …
Qualification Requirements For Foreign Corporations: The Need For A New Definition Of "Doing Business" Based On In-State Sales Volume, Stanley M. Klem
Qualification Requirements For Foreign Corporations: The Need For A New Definition Of "Doing Business" Based On In-State Sales Volume, Stanley M. Klem
University of Michigan Journal of Law Reform
Part I of this article examines the mechanics of the present qualification system, paying special attention to the problems created by a multiplicity of vague state standards. Part II discusses the historical justification and purposes of the present system, concluding that only the protection function justifies the continued existence of the system. Finally, Part III proposes that "doing business" be defined in terms of the annual volume of in-state sales. This solution would remedy the problems which plague the present system while furthering the legitimate protection function of the state qualification requirements.
Standards For Insecurity Acceleration Under Section 1-208 Of The Uniform Commercial Code: A Proposal For Reform, Darlene M. Nowak
Standards For Insecurity Acceleration Under Section 1-208 Of The Uniform Commercial Code: A Proposal For Reform, Darlene M. Nowak
University of Michigan Journal of Law Reform
This article examines in Part I how insecurity clauses function under the common law and the U.C.C .. Part II discusses the areas of controversy under section 1-208, the definition of good faith, the need for notice to the debtor, and the debtor's burden of proof. The article will evaluate the need for substantive reform in each area of controversy. A two-tier test of the creditor's insecurity is proposed wherein although the creditor has no responsibility to check the truth of his information, he may accelerate only if the information is true and is such as to make a reasonable …
Michigan's Nursing Home Reform Law, John D. Croll
Michigan's Nursing Home Reform Law, John D. Croll
University of Michigan Journal of Law Reform
This article examines Michigan's new nursing home reform law, which has been hailed as "landmark legislation" and as a model for the entire country. Part I examines the past failures of nursing home regulation and the need for reform. Part II analyzes the law's key provisions. Part III examines the weaknesses of certain enforcement measures. The article proposes the following improvements: (1) extension of the law's protection to residents of homes for the aged; (2) greater access to patients by approved organizations; (3) adoption of nurse-patient ratios; (4) improvement of inspection procedures; and (5) allowance for patients or their representatives …