Securities Law Commons^™

A New Deal For Fiduciaries' Stock Transfers, Alfred F. Conard

Michigan Law Review

For nearly one hundred years, executors and administrators have been struggling with the excessive documentation which corporations demand as a condition of recording stock transfers. For almost as long, legislatures have been passing laws in the hope-generally vain-of alleviating the burden.

In 1957, at least three states (and possibly four) opened a door through which estate representatives can emerge from their long bondage. For the first time, identical acts were passed in different states, and interstate recognition of simplification measures began. For the first time acts were passed which get to the root of the transfer agent's problem.

Conflict Of Laws - Penal Provisions In Foreign Law - Liability Of Shareholders In De Facto Corporation, James M. Potter S.Ed.

Michigan Law Review

Defendants, residents of Tennessee, while attempting to form a corporation under the laws of Arkansas, inadvertently failed to file the articles of incorporation with the county clerk, although they were filed with the Secretary of State of Arkansas. The resulting business association was an Arkansas de facto corporation. Under Arkansas law the shareholders of a de facto corporation are personally liable for the debts of the corporation. Plaintiff, a creditor who dealt with the corporation, sued in a Tennessee court and asked that the Arkansas rule be applied. The trial court refused to do so on the ground that it …

Conflicts Of Law-Negotiable Instruments-Situs Of Bearer Bonds, Paul M.D. Harrison S.Ed.

Michigan Law Review

By a Vesting Order, the Alien Property Custodian vested in the Attorney General property of an enemy alien which consisted of a "certain debt or other obligation" underlying bonds issued by the defendant corporation. The defendant corporation was ordered to cancel the said bonds and deliver the proceeds of the redemption and accrued interest to the Attorney General. Upon the trial of the action brought by the Attorney General to enforce these demands, it appeared in evidence that the bond certificates had last been located in the Russian sector of Berlin, Germany, and were there seized by the occupying authorities. …

Note And Comment, Charles A. Kent, Horace Lafayette Wilgus, Willard J. Banyon, John T. Creighton

Michigan Law Review

A Criticism of President Hadley's Views on "The constitutional Position of Property in America"; Inconsistent Defenses; Vacation of Corporation Directors; Right of the United States to Recover Money Paid on Pension Checks Bearing Forged Indorsements; Damages Recoverable on Stock Broker's Failure to Purchase as Directed;

Recent Important Decisions, Michigan Law Review

Michigan Law Review

Attorney--disbarment for Malpractice; Bills and Notes--Certification of Check; Bills and Notes--consideration--Illegal Use of Proceeds--Sunday Contracts; Bills and Notes--Notice of Protest; Carrier--Invalid Ticket--Tender of Cash Fare--Ejection of Passenger; Common Carriers--Express Companies--Municipal Tax on Delivery of Intoxicating Liquors--Mandamus to Compel Transportation; Common Carriers--Limitation of Liability by Special Contract--Hand Baggage; Constitutional Law--Obligation of Contract; Constitutional law--Privileges of Citizens--Interstate Commerce--Peddler's License; Corporations--conflict of Laws--Liability of Stockholders in Company Formed to Trade in a Foreign Country--Implied Authority to Pledge Personal Credit of Shareholders Under Foreign Law; Covenants--Privity of Estate; Criminal Law--False Pretenses--Post payable Check; Criminal Law--Presumption from Identity of Names; Deeds--Capacity of Grantor as Compared …

Recent Important Decisions, Michigan Law Review

Michigan Law Review

Arbitration and Award--By-Laws of Board of Trade--Ousting Courts' Jurisdiction; Bills and Notes--Accommodation Indorsement--Conflict of Laws; Bills and Notes--Material Alteration; Common Carriers--Duty to Notify Passenger of Arrival at His Destination--Must Awaken Sleeping Passenger if His Destination is Known; Constitutional Law--Anti-Trust Laws--Equal Protection of the Laws; Constitutional Law--Insurance--State Statutes Prohibiting Combinations Among Insurance Companies--Do Not Violate Fourteenth Amendment; Constitutional Law--Prosecution by Information due Process of Law; Contracts--Agreement to Employ Only Members of a Certain Union; Contracts--Public Policy--Location of Depots; Corporations--Reduction of Stock--Equitable Relief--Powers of Officers; Corporations--Suit by Stockholders--Refusal of Directors to Sue; Corporations--Suit in Stockholders' Names--Device to Confer Jurisdiction on Federal Courts; …

Recent Important Decisions, Michigan Law Review

Michigan Law Review

Attachment--alliams Writ--Collateral Attack; Attorneys--disbarment--Malfeasance in Office; Chattel Mortgages--Liability of Mortgagee for Selling More Property than Enough to Satisfy Debt; Conflict of Laws--Comity--Extraterritorial Effect of Laws; Constitutional Law--due Process of Law--Restraint of Insane Persons--Habeas Corpus; Constitutional Law--Eight-Hour Haw--Public contracts; Contempt--Libel of Court; Contract--Construction--Damages; Corporations--Fraud of Directors--Rights of Stockholders; Criminal Law--Habeas Corpus--Waver of Objections as to the Legality of Trial Court; Criminal Procedure--Bill of Exceptions--Presumption as to Evidence; Deeds--In Consideration of Support--Condition Subsequent--Charge Upon Land; Divorce--Alimony--Payment After Husband's Death; Elections--Conduct of Special Elections--Preparation of Ballots; Evidence--constitutional Law--Privilege--Witness; Evidence--Presumption--Suicide; Garnishment--Interests in Expectancy; Husband and Wife--Conveyance to Avoid Taxation--Trusts; Injunction--Parties--Contempt; Insurance, Fire--"Iron Safe" Clause--Waiver; …