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Legislation, Law Review Staff Dec 1966

Legislation, Law Review Staff

Vanderbilt Law Review

In United States v. Philadelphia Nat'l Bank,' the Supreme Court enjoined a proposed merger of the second and third largest commercial banks in Philadelphia. The Court held, inter alia, that section 7 of the Clayton Act 2 applied to bank mergers, and that the merger in question might substantially lessen competition. Central to the reasoning of the majority was the premise that an unchecked trend toward concentration of market power in commercial banking is contrary to the public interest in maintaining competition among existing commercial banks. Since commercial banking had traditionally been considered exempt from section 7 prosecution, the cry …

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Purchase Of Note Constitutes Usurious Loan, Anon Aug 1966

Purchase Of Note Constitutes Usurious Loan, Anon

Washington Law Review

Defendant applied for a loan to an investment broker to whom he gave a mortgage and a promissory note payable to, and subsequently endorsed in blank by, a third party. The broker, whose name appeared on neither instrument, then sold the 6,000 dollar note at a six per cent discount to plaintiff after deducting a commission of 890 dollars. Defendant received only 4,750 dollars for his note. Plaintiff did not know that his money constituted the original consideration for the note, which bore ten per cent annual interest. After defendant's default, plaintiff brought this action to foreclose the mortgage. The …

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Industrial And Commercial Loans And Guarantees For New Or Expanding Business Under The Public Works And Economic Development Act Of 1965, James M. Roberts Jun 1966

Industrial And Commercial Loans And Guarantees For New Or Expanding Business Under The Public Works And Economic Development Act Of 1965, James M. Roberts

West Virginia Law Review

In his pivotal primary victory over Hubert Humphrey, President John F. Kennedy pledged that he would lend vigorous assistance to the impoverished coal mining regions of West Virginia to alleviate their economic distress. In fulfillment of this pledge, Congress passed and President Kennedy signed into law in May, 1961, the Area Redevelopment Act in order to "establish an effective program to alleviate conditions of substantial and persistent unemployment and underemployment in certain economically distressed areas." The Area Redevelopment Act created an experimental pilot program within the Department of Commerce to accomplish the above purpose through a system of government loans …

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Mortgages--The Doctrine Of Future Advances, James Truman Cooper Jun 1966

Mortgages--The Doctrine Of Future Advances, James Truman Cooper

West Virginia Law Review

No abstract provided.

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Disclosure Of Finance Charges: A Rationale, Robert L. Jordan, William D. Warren May 1966

Disclosure Of Finance Charges: A Rationale, Robert L. Jordan, William D. Warren

Michigan Law Review

One wonders whether in all of the talk generated about disclosure in the past few years the purposes of disclosing finance charges to consumers have not been somewhat obscured. This article is an attempt to examine the subject of disclosure from the standpoint of the function it performs in consumer credit transactions. We shall discuss the various methods of computing finance charges in the different segments of the finance industry, the functions of disclosure of finance charges and the feasibility of using different computational methods in each category of consumer transactions. The problems involved in requiring the disclosure of finance …

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Necessity For Signature On A Check To Be In Same Form As Signature On Specimen Signature Card, William O. Morris Apr 1966

Necessity For Signature On A Check To Be In Same Form As Signature On Specimen Signature Card, William O. Morris

West Virginia Law Review

No abstract provided.

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The Relative Priority Of Small Business Administration Liens: An Unreasonable Extension Of Federal Preference?, Ronald L. Olson Apr 1966

The Relative Priority Of Small Business Administration Liens: An Unreasonable Extension Of Federal Preference?, Ronald L. Olson

Michigan Law Review

During the past three decades, the priority of the federal government as against state and private creditors competing for the assets of debtors has been greatly strengthened. In terms of relative growth, the expansion of federal priority has been comparable to the increased commercial involvement of the United States. In more recent years, Congress and the judiciary have recognized that this increased governmental commercial activity necessitates a restriction in sovereign prerogatives. However, contrary to this general trend toward the contraction of sovereign prerogatives and for reasons appearing unsatisfactory to most commentators, the "sovereign prerogative" of priority to the assets of …

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Credit Cards: The Liability Of The Card Holder For Unauthorized Purchases Mar 1966