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Articles 3091 - 3120 of 3139

Full-Text Articles in Law

Foreign Bondholders Protective Organizations, Edwin Borchard Jan 1933

Foreign Bondholders Protective Organizations, Edwin Borchard

Faculty Scholarship Series

The unfortunate experience in recent years of the American holders of defaulted foreign bonds led to the passage by Congress on May 27, 1933, of the Corporation of Foreign Bondholders Act, as Title II of the Federal Securities Act. It was designed to furnish a medium through which American bondholders could act jointly in the adjustment of their claims against defaulting governments or other foreign entities. The holders of the defaulted bonds of a foreign state occupy a peculiar position. They cannot sue in the bondholders' state, nor, even where foreign governments permit themselves to be sued, have they any ...


Uncontrolled Expansion In The Light And Power Industry, Richard J. Smith Jan 1933

Uncontrolled Expansion In The Light And Power Industry, Richard J. Smith

Faculty Scholarship Series

IT has been characteristic of public utility regulation in the United
States to defer governmental interference with private management
until abuses have become too flagrant to be ignored. Statutory
control as established by Munn v. Illinois came only after reckless
rate practices of railroads had goaded shippers of the middlewest
into disorderly political agitation. Subsequent extensions of governmental
authority have followed in the wake of newly discovered
abuses. Improvident capitalization endangering the interests of
consumers and investors has led to the supervision of security issues.
Inadequate, if not misleading, corporate records have resulted in the
prescription of uniform systems of ...


The Federal Tort Claims Bill, Edwin Borchard Jan 1933

The Federal Tort Claims Bill, Edwin Borchard

Faculty Scholarship Series

Forty years ago, Ernst Freund, in an article which is still fundamental to the subject, stated: A tort committed in the exercise of governmental functions creates no private cause of action against the state; where a liability is demanded by justice, it must be created by statute. A tort committed in connection with private relations should give rise to a corresponding civil liability, with such statutory exceptions as may be dictated by public policy. This is not the recognized law, but seems to be demanded on general principles. After nearly ten years of effort, the Committees on Claims of the ...


Negotiability Of Corporate Bonds, Roscoe T. Steffen, Henry E. Russell Jan 1932

Negotiability Of Corporate Bonds, Roscoe T. Steffen, Henry E. Russell

Faculty Scholarship Series

There has smouldered for many years a question whether the
Negotiable Instruments Law should apply to long term commercial
paper-the bonds, debentures, equipment trust certificates
and other instruments invented by an ingenious financial community.
Not that any one doubts that such paper should be negotiable,
for there has been no criticism of the decisions so holding,
nor has there been much concern whether negotiability was
reached under the Act or by common law recognition of custom.
But when, as has happened several times in recent years, an instrument
of this class has run afoul the statute and been held
non-negotiable ...


Book Review. Keezer, D. M. And May, S., The Public Control Of Business, Ralph F. Fuchs Jan 1930

Book Review. Keezer, D. M. And May, S., The Public Control Of Business, Ralph F. Fuchs

Articles by Maurer Faculty

No abstract provided.


Book Review. Albertsworth, E. F., Selected Cases And Other Authorities On Industrial Law, Ralph F. Fuchs Jan 1929

Book Review. Albertsworth, E. F., Selected Cases And Other Authorities On Industrial Law, Ralph F. Fuchs

Articles by Maurer Faculty

No abstract provided.


Declaratory Judgments, Edwin Borchard Jan 1929

Declaratory Judgments, Edwin Borchard

Faculty Scholarship Series

You may think it a little presumptuous, and I guess it is, to have a man come here from the East and undertake to point out any defects in the law of Ohio. My interest in the subject of declaratory judgments is such, however, that I have ventured to incur whatever dangers there may be in that undertaking. I was the more disposed to run those risks because what I hope to discuss today is not anything really new, but is an institution that England has had for over fifty years and which has been adopted in some twenty-three states ...


Government Responsibility In Tort Vii, Edwin Borchard Jan 1928

Government Responsibility In Tort Vii, Edwin Borchard

Faculty Scholarship Series

In addition to the historical doctrines justifying government irresponsibility, already discussed, it seems proper to review the more modern doctrines and theories advanced in the nineteenth and twentieth centuries either to deny or to support the responsibility of the State or other public corporation for the torts of its officers. The recognition of governmental responsibility for the torts of officers required certain political and social conditions which, until comparatively modern times, hardly prevailed in the western world. It was necessary for political theory to mature to a position according the individual a large measure of recognition for his personal rights ...


Mandamus To Compel Corporations To Allow Inspection Of Books, Action By Administratrix Of Stockholder, Paul V. Mcnutt Jan 1926

Mandamus To Compel Corporations To Allow Inspection Of Books, Action By Administratrix Of Stockholder, Paul V. Mcnutt

Articles by Maurer Faculty

No abstract provided.


Public Utility Valuation, Edwin C. Goddard Jan 1923

Public Utility Valuation, Edwin C. Goddard

Articles

It has been so often remarked that the "valuation" of public utilities is determined by no rule of thumb, that there are no fixed rules or formulas to guide courts or commissions, that determination of value as a rate base is matter of judgment and discretion in each case, Minnesota Rate Cares, 230 U. S. 352, 434, that the statement has come to be believed by reason in part of its much repetition. It is usually accepted as axiomatic. The glorious uncertainty resulting from such an admission will continue so long as judgments of one man or set of men ...


Is A Municipal Fuel Yard A 'Public Service Plant'?, Evans Holbrook Jan 1923

Is A Municipal Fuel Yard A 'Public Service Plant'?, Evans Holbrook

Articles

In Consumers' Coal Co. et al. v. City of Lincoln, et al. (Neb. 1922) 189 N. W. 643, the supreme court of Nebraska held that a municipal fuel-yard, selling fuel at retail to the inhabitants of the city, was not a "public service plant" authorized by a section of the city charter which empowered the city to acquire, own and operate gas and electric plants, street railways, telephone plants, "and any and all other public service plants and properties, for the purpose of supplying the city and the inhabitants thereof with such service and public utilities." The suit was brought ...


Transfer Of Flag And The Declaration Of London, Edwin Borchard Jan 1923

Transfer Of Flag And The Declaration Of London, Edwin Borchard

Faculty Scholarship Series

It happens not infrequently when international legal conventions, designed to harmonize or recodify conflicting rules of law, are drafted, that the resulting convention is so broad or indefinite that confusion rather than agreement is effected, each party reading into the convention its own preconceptions. This was neither the purpose nor the necessary result of those articles of the Declaration of London, 55 and 56, which deal with the transfer of flag; yet in two important prize cases in which article 56 was applied, the prize courts of France and England came to diametrically opposite conclusions as to the meaning of ...


Earning Of Freight On Uncompleted Voyages, Edwin Borchard Jan 1921

Earning Of Freight On Uncompleted Voyages, Edwin Borchard

Faculty Scholarship Series

An inevitable consequence of the Great War was the interruption or breaking up of commercial voyages it necessarily brought about. These acts of interference have occasioned much litigation on the question of the amount of freight earned by vessels thus rendered unable to complete their voyages, and have given renewed importance to an interesting subject of admiralty and contract law. The imagination has not conjured more varied and romantic circumstances than the actual facts of maritime adventure, as disclosed in the prosaic pages of the law reports. It may, therefore, be of interest to discover how the courts have dealt ...


Public Utilities—Franchise Rates As Affected By The World War, Edwin C. Goddard Jan 1920

Public Utilities—Franchise Rates As Affected By The World War, Edwin C. Goddard

Articles

The economic convulsions due to the World War are abundantly reflected in the relations between the public and their public utilities operating under franchises fixing rates for service. The enormous rise in cost of labor and materials has, in many cases, so reduced the net income of such utilities as to make it a negative quantity at existing franchise rates. The utilities are crying to be saved from bankruptcy, but the unfortunate suspicion bred by past dealings of many such companies has made the public skeptical, and perhaps in many cases entirely unreasonable. In some cases plain selfishness may explain ...


Public Utility Valuation - Cost Of Reproduction Theory And The World War, Edwin C. Goddard Jan 1920

Public Utility Valuation - Cost Of Reproduction Theory And The World War, Edwin C. Goddard

Articles

The very grave objections to the cost-of-reproduction theory of valuation of public utilities was pointed out at large in 15 MICH. L. REV. 205. The violent price changes following the World War have greatly increased the weight of these objections to calling anything a base which rests on such uncertainties and fluctuations as cost-of-reproduction. A base should be stable, but this has the stability Of a flying machine. There had been a rising curve of costs from 1893 to 1916, but since that date the rise has been almost vertical. The public utilities by- the thousands desire to take advantage ...


Corporations, Shareholders' Right To Have A Dividend Declared And Paid Out Of Surplus, Horace Lafayette Wilgus Jan 1919

Corporations, Shareholders' Right To Have A Dividend Declared And Paid Out Of Surplus, Horace Lafayette Wilgus

Articles

In Dodge v. Ford Motor Co. (Mich. 1919), 170, N. W. 668, the questions were not new, and with one exception, the decision was not unusual, but the sums involved were enormos. The Motor Company was incorporated in 1903, under the general manufacturing incorporating act of Michigan (P. A. 232, 1903), for the manufacture and sale of automobiles, motors and devices incident to their construction and operation, with an authorized Capital Stock of $150,000-$100,000 then paid up, $49,000 in cash, $40,000 in letters patent issued and applied for, and $11,000 in machinery and contracts ...


Interstate Commerce Commission - Intrastate Rates, Edwin C. Goddard Jan 1918

Interstate Commerce Commission - Intrastate Rates, Edwin C. Goddard

Articles

The marvelous possibilities for collision between State and Nation involved in our dual form of government are nowhere better or more often exhibited than in commerce regulation. We have long been learning the definition of the commerce which the constitution gives Congress power to regulate. It is only recently that we are finding how this power reaches over into purely intrastate business done by a carrier also engaged in interstate commerce. That nearly all rail carriers are now engaged in such business, even when their lines are wholly intrastate, has been often illustrated under the Second Employer's Liability Act ...


Public Utility Valuation - Going-Concern Value In Rate Making, Edwin C. Goddard Jan 1918

Public Utility Valuation - Going-Concern Value In Rate Making, Edwin C. Goddard

Articles

What is the effect of a city ordinance which proposes to a public utility company the terms on which it may dispose of its product to the users, but which is rejected by the company? As to a company not yet doing business it is clear that the ordinance when rejected becomes a mere legal nullity. It never was more than an offer that might ripen into a binding contract by acceptance. That it is by no means a nullity as to a utility actually operating in the city after the expiration of its franchise and as a mere tenant ...


Liability Of Corporations For Slander, Horace Lafayette Wilgus Jan 1918

Liability Of Corporations For Slander, Horace Lafayette Wilgus

Articles

S. entrusted by the president and general manager of a corporation with the business of obtaining a settlement from plaintiff for a mistakenly supposed shortage in his accounts with the corporation, falsely orally charged him with embezzlement. This charge was made to R., president of another corporation for which the plaintiff was working at the time, and as a step toward getting a settlement by the plaintiff. On the request for a directed verdict, by the defendant, the legal question was presented whether a corporation is liable for slander spoken by the agent of the corporation in the course of ...


Declaratory Judgment A Needed Procedural Reform, Edwin Borchard Jan 1918

Declaratory Judgment A Needed Procedural Reform, Edwin Borchard

Faculty Scholarship Series

It is now our purpose to undertake an analysis of numerous declaratory actions and judgments, with a view to determine the scope of and the limitations upon this useful form of procedure. An examination of declaratory judgments in the various jurisdictions in which the institution has been adopted reveals a remarkable similarity of fundamental principles characterizing the practice of making judicial declarations. As our interest is confined to the practice, emphasis will be laid not upon the- decision itself as a matter of substantive law, but rather upon the type of question submitted for declaratory judgment, the cases in which ...


Partnership Entity And Tenancy In Partnership: The Struggle For A Definition, Joseph H. Drake Jan 1917

Partnership Entity And Tenancy In Partnership: The Struggle For A Definition, Joseph H. Drake

Articles

PARTNERSHIP is a legal entity formed by the association of two or more persons. This definition of a partnership as a person or entity represents what may be characterized as a generally accepted theory among American jurists at the time of its publication in 1893. But a later definition says: "A partnership is an association of two more persons." "A partner is co-owner with his partners of specific partnership property holding as a tenant in partnership." The second definition shows that the Commissioners on Uniform State Laws have rejected the entity theory and coined a new term to describe partnership ...


Public Utility Valuation, Edwin C. Goddard Jan 1917

Public Utility Valuation, Edwin C. Goddard

Articles

EVERY consideration of valuation of a public utility, whether for the purpose of condemnation for purchase or as a basis for fixing rates or permitting the issue of stock or bonds, must start from Sinyth v. Ames, and the rule therein laid down by HARLAN, J., at page 546: "We hold, however, that the basis of all calculations as to the reasonableness of rates to be charged by a corporation maintaining a highway under legislative sanction must be the fair value of the property being used by it for the convenience of the public. And in order to ascertain that ...


Interstate Commerce And State Control Over Foreign Corporations, Ralph W. Aigler Jan 1914

Interstate Commerce And State Control Over Foreign Corporations, Ralph W. Aigler

Articles

Since Bank of Augusta v. Earle, 13 Pet. 519, there seems to have been no real occasion to doubt the power of a state totally to exclude foreign corporations seeking to engage in intrastate business only. The power to exclude being absolute, there has been no question as to the right of the state to allow the entrance of the foreign corporation for such business upon terms, and the terms may be of any sort, reasonable or unreasonable, except that the corporation seeking to enter cannot as a condition precedent to such entry be required to surrender a right or ...


Corporations And Express Trusts As Business Organizations, Horace Lafayette Wilgus Jan 1914

Corporations And Express Trusts As Business Organizations, Horace Lafayette Wilgus

Articles

PRESIDENT BUTLER of Columbia University is reported to have said in an address before the New York Chamber of Commerce in 1911, that "the limited liability corporation is the greatest single discovery of modem times, whether you judge it by its social, by its ethical, by its industrial, or, in the long run--after we understand it and know how to use it,--by its political, effects." 1


The Corporation Tax Decision, Ralph W. Aigler Jan 1911

The Corporation Tax Decision, Ralph W. Aigler

Articles

Seldom, if ever, in the history of the country has the Supreme Court been called upon within a comparatively short period of time to decide so many questions of widespread interest and vital importance as has been the case during the last year or two. Attempts on the part of the state and national governments to regulate and control corporations, which in recent years have come to exercise such a large and not always wholesome influence upon affairs generally, have been the occasion for the consideration by the court of many of the important cases recently presented. Among these are ...


The Passing Of State Control Over Railway Rates, Edson R. Sunderland Jan 1911

The Passing Of State Control Over Railway Rates, Edson R. Sunderland

Articles

Congress has exclusive power to regulate interstate commerce, so far as it admits of a uniform system of regulation, and a failure on its part to regulate in a given case is tantamount to a declaration that such commerce shall remain free and unrestricted. Brown v. Houston, 114 U. S. 622; Leisy v. Hardin, 135 U. S. 100. The states are, in all such cases, without jurisdiction to regulate, irrespective of what Congress has or has not done.


The Standard Oil Decision: The Rule Of Reason, Horace Lafayette Wilgus Jan 1911

The Standard Oil Decision: The Rule Of Reason, Horace Lafayette Wilgus

Articles

After twenty-one years the Sherman Anti Trust Act has been applied to the typical combination restraining interstate commerce, which that act was designed to prevent.


Interstate Commerce And State Control Of Foreign Corporations, Ralph W. Aigler Jan 1910

Interstate Commerce And State Control Of Foreign Corporations, Ralph W. Aigler

Articles

Corporations are the creatures of their parent state and outside the borders of the state creating them they have no existence except such as is granted them by comity. Bank of Augusta v. Earle, 13 Pet. 519; Lafayette Ins. Co. v. French, 18 How. 404; Paul v. Virginia, 8 Wall. 168; Ducat v. Chicago, 10 Wall. 410; Liverpool Ins. Co. v. Massachusetts, 10 Wall, 566; Home Ins. Co. v. Morse, 20 Wall. 445; Horn Silver Mining Co. v. New York, 143 U. S. 305; Waters-Pierce Oil Co. v. Texas, 177 U. S. 28; Security Mut. L. I. Co. v. Prewitt ...


Corporation Liens On Stock, Edson R. Sunderland Jan 1910

Corporation Liens On Stock, Edson R. Sunderland

Articles

At common law a corporation had no lien upon its stock for assessments unpaid or for debts due it from its shareholders.6 There are therefore but four possible methods by which liens could be created in favor of the corporation upon the stock which it issues, (i) by statute, (2) by charter, (3) by by-law, (4) by contract.


Purchase Of Shares Of Corporation By A Director From A Shareholder, Horace Lafayette Wilgus Jan 1910

Purchase Of Shares Of Corporation By A Director From A Shareholder, Horace Lafayette Wilgus

Articles

It is generally laid down in the encyclopedias and text books, and affirmed in many court opinions that "the doctrine that officers and directors [of corporations] are trustees of the stockholders, applies only in respect to their acts relating to the property or business of the corporation. It does not extend to their private dealings with stockholders or others, though in such dealings they take advantage of knowledge gained through their official position."1 Much of this doctrine is based upon the language of Chief Justice SHAW in Smith v. Hurd2 decided in 1847. He said: "There is no legal ...