Digital Commons Network^™

Mutual Funds-Trusts And Trustees-Capital Gains Distributions From Mutual Funds: Income Or Principal?, Michigan Law Review

Michigan Law Review

The growing prevalence of mutual fund shares in the assets of small and medium-sized estates has made the problem of allocating capital gains distributions between income and principal a matter of great concern to the trustees of such estates. A "capital gains" distribution represents a gain resulting from the profitable sale of securities held by the mutual fund. The uncertain state of the law regarding capital gains distributions from mutual funds presents a serious dilemma to the trustee: if he distributes the capital gains to the life beneficiary, the remainderman may claim that such distributions represent a partial liquidation of …

Bakal: The Right To Bear Arms, Virgil W. Peterson

Michigan Law Review

A Review of The Right To Bear Arms by Carl Bakal

Police Policy Formulation: A Proposal For Improving Police Performance, Herman Goldstein

Michigan Law Review

The police function in this country is much more varied and much more complex than is generally recognized. This is particularly true today in the congested areas of large urban centers· where the demand for police services is especially great and where the police are confronted with an increasing variety of difficult situations, many of which stem from dissatisfaction with the economic and social conditions existing in such areas. As law enforcement has become more difficult, it has, for the same reasons, taken on new importance as a function of local government.

Human Rights And Non-Intervention In The Inter-American System, José A. Cabranes

Michigan Law Review

The long silence of the inter-American system is remarkable when contrasted with the continuing efforts of the United Nations to elaborate an International Bill of Rights and the significant accomplishments of the Council of Europe in implementing on a regional basis the principal values enunciated in the Universal Declaration of Human Rights. The OAS' lack of interest, until quite recently, in undertaking a similar international program to protect human rights in the American republics is a function of several very special factors, the most important of which is the traditional Latin American repudiation of intervention, in whatever form and for …

Seller's Damages Following Resale Under Article Two Of The Uniform Commercial Code, Robert J. Nordstrom

Michigan Law Review

The seller's right to resell contracted-for goods following a breach by the buyer is set forth in section 2-706 of the Uniform Commercial Code (Code). That section also contains a statement of the conditions placed upon the exercise of that right and provides the measure of recovery if the resale is made "in good faith and in a commercially reasonable manner":

[T]he seller may recover the difference between the resale price and the contract price together with any incidental damages allowed under the provisions of this Article (Section 2-710), but less expenses saved in consequence of the buyer's breach.

In …

The Irregular Issuance Of Warehouse Receipts And Article Seven Of The Uniform Commercial Code, Douglass G. Boshkoff

Michigan Law Review

The draftsmen of Article Seven were well aware of the problems caused by irregular issuance of warehouse receipts and there will be fewer problems of irregularity under the Code for two reasons. First, the Code's formal requirements for issuance of warehouse receipts are less stringent than are those imposed by the UWRA, thereby lessening the chances of any irregularity occurring. Second, the Code contains two sections which aim to minimize the consequences of any irregularities which may occur. In this article I will discuss the types of defects that have been troublesome over the years, focussing on the ways in …

Protection Of The Installment Buyer Of Goods Under The Uniform Commercial Code, Robert H. Skilton, Orrin L. Helstad

Michigan Law Review

The present topic for discussion, protection of the installment buyer under the Code, is part of a larger topic-protection of the consumer under the Code. The remarks that follow sometimes apply generally to the status of the consumer under the Code. There are times when no distinction should be made between our model installment buyer and other consumer buyers.

Article Eight: A Premise And Three Problems, Ernest L. Folk Iii

Michigan Law Review

This essay concerns itself with a basic premise and three problems concerning investment securities under Article Eight of the Uniform Commercial Code (Code). Although some amount of relevant exposition is necessary to make the arguments intelligible, general familiarity with the essentials of the Code's treatment of investment securities is assumed.

Reclamation Of Goods From A Fradulent Buyer, Robert Braucher

Michigan Law Review

Sections 2-702(2) and (3) of the Uniform Commercial Code (Code), defining the right of a seller to reclaim goods from an insolvent buyer, have for years been the subject of controversy. The sponsors of the Code have stood firm on the basic policy of these sections for more than twenty-five years, but, in its 1966 Official Recommendations for Amendment of the Uniform Commercial Code, the Permanent Editorial Board includes an amendment striking the words "or lien creditor" from section 2-702(3). That change has already been made in six states: California, Illinois, Maine, New Jersey, New Mexico, and New York. In …

Actions On Commercial Paper: Holder's Procedural Advantages Under Article Three, Stanley V. Kinyon

Michigan Law Review

The discussion will also be concerned primarily with the usual action "on the instrument": an action by the holder to enforce payment by a person who has signed it as maker, acceptor, certifier, drawer, indorser, or guarantor and has thus become "liable on" it. These instruments, of course, may be involved in other types of actions, such as: an action for conversion of the instrument (section 3-419); an action to recover damages for breach of the warranties of a collector or transferor (sections 3-417 and 4-207); an action to compel indorsement (section 3-201); an action to enjoin payment (section 5-114(2)(b)); …

One Civil Libertarian Among Many: The Case Of Mr. Justice Goldberg, Ira H. Carmen

Michigan Law Review

It is common knowledge that in recent times the constitutional issues of greatest magnitude and of greatest public interest lie in the area of civil liberties. These cases almost always call for the delicate balancing of the rights of the individual, allegedly protected by a specific clause in the Constitution, and the duties that state or federal authority can exact from citizens in order that society may maintain a minimum standard of peace and security. It follows, therefore, that it is these often dramatic decisions which will largely color the images we have of participating Justices. Assume a free speech …

Periodical Index, Michigan Law Review

Michigan Law Review

Subject Index of Articles and Comments Appearing in Leading Law Reviews

Front Matter, Michigan Law Review

Michigan Law Review

Front Matter for Volume 65, Issue 2 Michigan Law Review

A Tax Formula To Restore The Historical Effects Of The Antitrust Treble Damage Provisions (An Open Letter To The Senate Antitrust And Monopoly Committee), L. Hart Wright

Michigan Law Review

Following the well-publicized criminal conviction of a major segment of our electrical equipment industry for conspiring to fix and maintain prices, terms, and conditions of sales made to both private industry and the government, almost 2,000 private antitrust treble damage suits were brought against those convicted. In July, 1964, when at least 1,500 of these suits were still pending, the Commissioner of Internal Revenue publicly announced that amounts paid or "incurred" by the defendants in those actions to private plaintiffs, either pursuant to judgment or by way of settlement, together with legal expenses pertaining thereto, were deductible as ordinary and …

Fiduciary Ideology In Transactions Affecting Corporate Control, Victor Brudney

Michigan Law Review

The fiduciary role in which corporate insiders are cast in their dealings with, or affecting, their corporations embraces a multitude of parts. Hence the range of restrictions on their conduct varies from inhibitions as rigorous as those imposed on express trustees to limitations almost as flexible as those governing arm's length dealings among strangers. As has often been pointed out, the characterization of a corporate officer, a director, or a person controlling the corporation as a "fiduciary" does not define his status with precision; rather, it sets a tone to his role and suggests the existence of obligations and of …

Attorneys--Self-Incrimination--The Attorney's Privilege Against Self-Incrimination In A Disbarment Proceeding, Michigan Law Review

Michigan Law Review

A state court has jurisdiction to deal with the alleged misconduct of attorneys practicing before it either explicitly by statute or by ' virtue of its power to control the conduct of its own affairs. Indeed, it can suspend or disbar an attorney who fails to maintain the standard of conduct established for members of the legal profession. One aspect of such a standard is that an attorney is bound not to obstruct the administration of justice, a duty which imposes upon him an affirmative obligation to cooperate with the courts. The question frequently arises whether, in order to satisfy …

Recent Books, Michigan Law Review

Michigan Law Review

A List of Books Received by Michigan Law Review

Motor Vehicles--Legislation--The Michigan Motor Vehicle Accident Claims Act, Michigan Law Review

Michigan Law Review

With the adoption of the Michigan Act, Michigan has become the fifth state to adopt a comprehensive program utilizing both the insurance and the fund approaches. Moreover, the Michigan Act, apparently inspired by its Ontario prototype, contains some elements which were previously unknown in United States legislation. Consequently, it may prove enlightening to examine the scope and purpose of the Michigan Act, and to compare it with similar legislation in other states.

Recent Books, Michigan Law Review

Michigan Law Review

A List of Books Received by Michigan Law Review

Front Matter, Michigan Law Review

Michigan Law Review

Front Matter for Volume 65, Issue 1 of Michigan Law Review

The Comity Doctrine, Introduction, Kurt H. Adelmann

Michigan Law Review

Hessel Yntema's Essay on the Comity Doctrine, published in a Festschrift in Europe, deals with the origin and the meaning-or meanings-of a doctrine which has had a truly extraordinary impact on American conflicts law. For this reason and because of the stature of the author, the Essay is entitled to a special place in our literature on the Conflict of Laws. The Michigan Law Review has decided, as a memorial to the great Michigan Scholar, to reprint the Essay so that it may be more easily accessible.

Written for other purposes, the Essay does not discuss the place which the …

The Comity Doctrine, Hessel E. Yntema

Michigan Law Review

The doctrine of comity, as developed in the Netherlands during the last quarter of the Seventeenth Century, for the first time posed in stark simplicity the basic dilemma of conflicts law in modem times to mediate between the pretensions of territorial sovereignty and the needs of international commerce. As Ulrik Huber, the most influential exponent of the doctrine, observed: "Exempla, quibus utemur, ad juris privati species maxime quidem pertinebunt, sed judicium de illis unice juris publici rationibus constat, & exinde definiri debent.'' ["The examples which we shall use belong principally to the category of private law but their treatment …

The Effect Of Misunderstanding On Contract Formation And Reformation Under The Restatement Of Contracts Second, George E. Palmer

Michigan Law Review

The presence of misunderstanding at the time of an apparent agreement creates difficult problems in the law of contract formation and equally difficult problems when the apparent agreement is in ·writing and reformation is sought. The rules formulated in the original Restatement of Contracts are unsatisfactory in both areas. The preparation of the Restatement Second, which is now under way for contracts, includes changes in the rules of contract formation but the changes emerging are no more satisfactory than the original rules. The current version of the Restatement Second, contained in Tentative Draft No. 1, accepts the …

Habeas Corpus--Custody And Release From Custody Requirements Of Habeas Corpus--Viability Of Mcnally V. Hill In The Moden Context, Michigan Law Review

Michigan Law Review

Section 2241 of Title 28 of the United States Code requires that a petitioner for a writ of habeas corpus be "in custody." As a corollary of the "custody" requirement, the common law tradition required that the effect of the writ must be the petitioner's "release from custody.'' Because the United States Constitution and the federal habeas corpus statutes guarantee the availability of the writ in general terms, it is to the common law that the courts have consistently turned for the definition of these terms and for the restrictive effect of these requirements on the availability of the writ …

Periodical Index, Michigan Law Review

Michigan Law Review

Subject Index of Articles and Comments Appearing in Leading Law Reviews

Front Matter, Michigan Law Review

Michigan Law Review

Front Matter for Volume 64, Issue 8 of Michigan Law Review

Divestiture Of Illegally Held Assets: Observations On Its Scope, Objective, And Limitations, William T. Kerr

Michigan Law Review

"Divestiture has been called the most important of antitrust remedies. It is simple, relatively easy to administer, and sure." This observation was made with reference to an order requiring divestiture of illegally held stock. In the context of the divestiture of illegally held assets, however, the statement is an oversimplification of myriad complex problems. This Comment will examine the difficulties encountered in eliminating the anticompetitive effects of a fully consummated merger found to have violated section 7 of the Clayton Act. No attempt will be made to assess the substantive doctrine upon which the violation in any instance was based, …

Periodical Index, Michigan Law Review

Michigan Law Review

Subject Index of Articles and Comments Appearing in Leading Law Reviews

The Longshoremen's And Harbor Workers' Compensation Act Of 1927: Half-Way Protection For The Stevedore And The Longshoreman, Robert E. Gilbert

Michigan Law Review

The law relating to longshoremen's remedies abounds with surprising anomalies, hyper-technical distinctions, and bits and pieces of judicial legislation. This situation stems largely from deficiencies in the Longshoremen's and Harbor Workers' Compensation Act of 1927, an inherently inadequate statute greatly distorted by recent judicial interpretation. This Comment undertakes an examination of the act's most salient shortcomings with a view to suggesting possible guidelines for what is believed to be necessary corrective legislation.

Index, Michigan Law Review

Michigan Law Review

Contents of Volume 64: Subject Index, Table of Cases, Articles, Authors Book Reviews