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Articles 10231 - 10260 of 10765
Full-Text Articles in Law
Corporations--Doing Professional Service Through Others, Joseph N. Morency, Jr. S.Ed.
Corporations--Doing Professional Service Through Others, Joseph N. Morency, Jr. S.Ed.
Michigan Law Review
The question whether a corporation empowered to engage in any lawful business may furnish professional services to its members or customers through the use of licensed agents has been a real problem for the courts. It is generally agreed that a corporation cannot furnish professional services to the public generally through or by means of employing licensed members of a profession for whose services it makes charges that go into the funds of the corporation; but it is equally well-settled that a corporation can engage in any lawful business or trade .even though practitioners are required to be licensed, provided …
Corporations--Transfer Of Shares--Restriction By Shareholders' Agreement, John E. Grosboll
Corporations--Transfer Of Shares--Restriction By Shareholders' Agreement, John E. Grosboll
Michigan Law Review
The original shareholders of a family corporation had entered into a private agreement, noted on the stock certificates, which provided that before sale by any of the parties of any stock to a non-member, such stock must first be offered to the remaining stockholders. Defendant B, the widow of one of the founders, contracted to sell her stock to plaintiff, a non-member, without first offering it to defendants L and M, who own the balance of the stock. Plaintiff now seeks specific performance of his contract with defendant B. Defendants L and M seek to exercise their …
Corporations-Restraints On Alienation Of Stock As Against Pledgees With Notice, John F. O'Connor S.Ed.
Corporations-Restraints On Alienation Of Stock As Against Pledgees With Notice, John F. O'Connor S.Ed.
Michigan Law Review
The charter and a by-law of the plaintiff corporation contained provisions which stipulated that before a stockholder could sell or transfer any stock, he must first offer the stock to the corporation. The relevant by-law appeared on every certificate of stock. The defendant Kiernan borrowed money from the defendant corporation for which he gave a collateral note secured by the pledge of his-stock in the plaintiff corporation. The stock certificate was delivered to the defendant corporation as pledgee. After the default of Kiernan, the plaintiff corporation brought a bill in equity to enjoin the sale of the pledged stock at …
Corporations-Torts-Liability Of A Corporate Officer For Inducing Corporation To Breach Its Contract, Ira M. Price, Ii
Corporations-Torts-Liability Of A Corporate Officer For Inducing Corporation To Breach Its Contract, Ira M. Price, Ii
Michigan Law Review
Defendant corporation elected to redeem its outstanding preferred stock at a price of $65 a share including accumulated dividends. When plaintiff tendered its certificates of the preferred stock for transfer to the corporation, the company refused to accept the certificates or to pay for them at their redemption price. Plaintiff alleged that defendant Vincent, president of defendant corporation and owner of most of its common stock, conspired with and induced the company to break its stock redemption contract with plaintiff after plaintiff's refusal to agree to share with Vincent 50 p.er cent of any profits that might accrue from redemption …
Corporations-Accrued Preferred Stock Dividends-Charter Amendment, T. M. Kubiniec S.Ed.
Corporations-Accrued Preferred Stock Dividends-Charter Amendment, T. M. Kubiniec S.Ed.
Michigan Law Review
In 1943 defendant corporation's charter was amended to cancel 5 per cent cumulative preferred stock, outstanding since 1926 or earlier, and all accrued dividends in exchange for new 5 per cent ,non-cumulative preferred and non-voting common stock. Dividends had accumulated on the old preferred stock both before and after 1939 in a total amount of $50 per share. The recapitalization plan rested on a 1939 amendment to the Ohio General Code providing that the terms of outstanding stock can be changed "in such a manner as to discharge (without payment), adjust or eliminate rights to accrued undeclared cumulative dividends" by …
Corporations--Amendment Of By-Laws By Custom, Cornelia Groefsema S.Ed.
Corporations--Amendment Of By-Laws By Custom, Cornelia Groefsema S.Ed.
Michigan Law Review
In an application for a preliminary injunction to prevent stockholders from exercising their rights of ownership until there had been a determination whether such stock should be cancelled because issued without corporate authorization, the success of the petitioner depended upon whether a quorum of the directors was present at the meeting authorizing its issuance. This in turn depended upon whether the by-law requiring a board of directors of ten members had been amended by custom to require only seven. For the four years preceeding the meeting at which the stock was authorized, during which time, however, there were neither directors' …
Corporations-Foreign Corporations-Jurisdiction In Derivative Suits, E. M. Deal S.Ed.
Corporations-Foreign Corporations-Jurisdiction In Derivative Suits, E. M. Deal S.Ed.
Michigan Law Review
As an aftermath of the much publicized circus fire in Hartford, Connecticut, on July 6, 1944, owners of 37 per cent of the stock of the circus corporation brought a derivative action against the officers and directors alleging failure to observe proper precautions and asking that the corporation be indemnified for losses sustained and for an accounting for certain corporation funds spent for the benefit of one of the- defendant directors. The suit was instituted in New York where the corporation was licensed to do business although the circus was incorporated in Delaware, wintered in Florida, and the cause of …
Corporations--Voting Trusts--Non-Compliance With Statute As Basis For Judicial Termination, Robert K. Eifler S.Ed.
Corporations--Voting Trusts--Non-Compliance With Statute As Basis For Judicial Termination, Robert K. Eifler S.Ed.
Michigan Law Review
Common stockholders of a corporation which had on December 15, 1938 made a valid five year extension of a voting trust agreement originally entered into on January 22, 1929 attempted on May 27, 1939, to extend further the agreement for an additional five years. Following a dispute over the election of corporate directors almost two years after the termination of the first extension, certain holders of voting trust certificates brought bills in chancery to compel redelivery of the common stock registered in the names of the voting trustees and to declare the invalidity of the election. Held, the instrument …
Administration Of Partnership Estates In Washington: Probate Code V Uniform Partnership Act, John Mcsherry, Jr.
Administration Of Partnership Estates In Washington: Probate Code V Uniform Partnership Act, John Mcsherry, Jr.
Washington Law Review
Were a contest to arise today in Washington between a surviving partner and the administrator or executor of his deceased partner's estate, as, to which has the right to administer the partnership estate (assuming the surviving partner has not complied with the requirements of the Probate Code), each contestant could invoke statutes which apparently support his claim and exclude the other's. The administrator would turn to the Probate Code; the surviving partner, to the Uniform Partnership Act. Our court would then be faced with the task of deciding which should control.
The Conflict Of Laws: A Comparative Study. Volume Two. Foreign Corporations: Torts: Contracts In General, Ernst Rabel
The Conflict Of Laws: A Comparative Study. Volume Two. Foreign Corporations: Torts: Contracts In General, Ernst Rabel
Michigan Legal Studies Series
Full application of comparative methods to the law of conflicts requires a working plan of some magnitude. We ought to take stock of the conflicts rules existing in the different countries of the world, state their similarities or dissimilarities, and investigate their purposes and effects. The solutions thus ascertained should moreover be subjected to an estimation of their usefulness, by the standards appropriate to their natural objective. Conflicts rules have to place private life and business relations upon the legal background suitable to satisfactory intercourse among states and nations. They are valuable to the extent that their practical functioning, rather …
Municipal Corporations: Right Of Board Of County Commissioners To Fill Vacancy
Municipal Corporations: Right Of Board Of County Commissioners To Fill Vacancy
Indiana Law Journal
Notes and Comments: Municipal Corporations
Executive Committees Of Private Corporations, Frank Selby Hurst
Executive Committees Of Private Corporations, Frank Selby Hurst
Kentucky Law Journal
No abstract provided.
Equitable Protection Of Business And Business Rights, William Q. De Funiak
Equitable Protection Of Business And Business Rights, William Q. De Funiak
Kentucky Law Journal
No abstract provided.
Corporations-Sale Of All Or Substantially All Of Corporate Assets-Effect Of Modern Statutes, P. F. Westbrook, Jr. S.Ed.
Corporations-Sale Of All Or Substantially All Of Corporate Assets-Effect Of Modern Statutes, P. F. Westbrook, Jr. S.Ed.
Michigan Law Review
Modern general corporation acts commonly provide that a sale of all or substantially all of the assets of a corporation organized thereunder may be authorized by the affirmative vote of a specified proportion of the outstanding shares and made upon such terms as the board of directors shall deem expedient and for the best interests of the corporation. Since this sale provision usually stands apart from the dissolution or winding-up process authorized in the same acts, a legislative intent to govern all voluntary sales, not actually incident to dissolution by the terms of the statute would seem to be clear. …
Some Accounting Problems In The Preparation Of The Partnership Return Of Income, Christian Oehler
Some Accounting Problems In The Preparation Of The Partnership Return Of Income, Christian Oehler
West Virginia Law Review
No abstract provided.
The Canadian And British Death Tax Conventions, Alan L. Gornick
The Canadian And British Death Tax Conventions, Alan L. Gornick
West Virginia Law Review
No abstract provided.
Known Generally As Corporate Securities, Albert S. Abel
Known Generally As Corporate Securities, Albert S. Abel
West Virginia Law Review
No abstract provided.
Corporations-The Fair And Equitable Test In Recapitalizations, Robert O. Hancox
Corporations-The Fair And Equitable Test In Recapitalizations, Robert O. Hancox
Michigan Law Review
Changes in capital structures of corporations which modify rights of security holders generally occur under one of two circumstances: (1) reorganization of insolvent corporations which affects the rights of creditors as well as shareholders and necessitates judicial supervision; and (2) recapitalization of solvent corporations involving only the relative rights of the different classes of shareholders. It is the author's present purpose to focus attention on the effect of the latter type of modification on the most zealously guarded right of the preferred shareholder--the right to accrued dividends on cumulative preferred stock.
Foreign Corporations-What Constitutes "Doing Business" For Service Of Process As Contrasted With Domestication Requirement, Kenneth Liles
Foreign Corporations-What Constitutes "Doing Business" For Service Of Process As Contrasted With Domestication Requirement, Kenneth Liles
Michigan Law Review
South Carolina commenced suit against the Ford Motor Company by serving summons upon the South Carolina secretary of state pursuant to statute applicable when no process agent had been appointed, seeking to recover penalties imposed upon this foreign corporation for doing business in the state without having complied with the domestication statutes. Defendant claimed it was not doing business in the state because it had no property or agents therein, its products being handled by private dealers. The company attacked both the summons as against due process and the domestication statutes as a burden on interstate commerce. From judgment for …
Corporations--Foreign Corporations--Doing Business By Agents--Comity, E. M. Deal
Corporations--Foreign Corporations--Doing Business By Agents--Comity, E. M. Deal
Michigan Law Review
The plaintiff, an Illinois corporation, offered correspondence courses in refrigeration and air conditioning. One of its agents solicited the defendant in Lincoln, Nebraska. The defendant signed a contract and promissory note for the tuition and made an advance payment, whereupon the agent forwarded the contract, note, payment and other papers to the home office of the plaintiff corporation in Chicago, Illinois. The plaintiff accepted the contract in Illinois. After six months, the defendant refused to proceed with the lessons or make further payments in accordance with the contract. The plaintiff sued for the balance due on the note. The Nebraska …
Corporations --Voting Trusts -- Non-Compliance With Statute As A Basis For Judicial Termination, Joseph R. Brookshire S.Ed.
Corporations --Voting Trusts -- Non-Compliance With Statute As A Basis For Judicial Termination, Joseph R. Brookshire S.Ed.
Michigan Law Review
It is not the purpose of this comment to discuss the history of the voting trust, to recapitulate the controversy over its legality, or to examine the many grounds for termination of the trust. It is sufficient to say that in all but perhaps three states this important business device has been made legal by statute or by judicial decision. We are here concerned with finding the degree of statutory compliance necessary in order that the voting trust will be sustained.
Business Organizations, Ben F. Small Jr.
Corporations-Extent Of Powers To Dispose Of Property In Winding Up Its Affairs Under Statutes Extending Corporate Existence, Joseph R. Brookshire S.Ed.
Corporations-Extent Of Powers To Dispose Of Property In Winding Up Its Affairs Under Statutes Extending Corporate Existence, Joseph R. Brookshire S.Ed.
Michigan Law Review
According to the common law a dissolved corporation ceased to exist for all purposes. Whether the dissolution was voluntary or involuntary, the effect of the dissolution was to deprive the corporation of all powers either de jure or de facto. It was necessary, therefore, that corporations facing dissolution proceed without delay toward a final liquidation and distribution of assets. Disregarding the old theory that personal property of dissolved corporations escheated to the state, and that its real estate reverted to the original granter or his heirs, and that debts due the corporation were extinguished, it is still apparent that hurried …
Taxation-Income Tax-Deductions-Dividends Or Interest, Milton D. Solomon S.Ed.
Taxation-Income Tax-Deductions-Dividends Or Interest, Milton D. Solomon S.Ed.
Michigan Law Review
The difficulty of determining whether payments made by a corporation on its securities are dividends or interest has been highlighted by two recent cases, involving substantially similar facts, which came before the Supreme Court on review.
Taxation-Income Tax-Deduction For Worthless Stock-Objective V. Subjective Test, Rosemary Scott
Taxation-Income Tax-Deduction For Worthless Stock-Objective V. Subjective Test, Rosemary Scott
Michigan Law Review
The taxpayer held stock in a corporation - which had been in receivership for five years, and which had, during all of that time, liabilities substantially exceeding its assets. When the receivership was ended and when a derivative suit against the management was compromised, the taxpayer declared the stock to be worthless and claimed a deduction for 1937. The commissioner denied the deduction on the ground that the stock had not become worthless in 1937. The Tax Court sustained this ruling and the circuit court of appeals affirmed. Held, the value of the stock should be determined by an …
Corporations-Change In The Basis Of Sharing Profits As An Impairment Of The Obligation Of Contracts, Robert E. Walsh S.Ed.
Corporations-Change In The Basis Of Sharing Profits As An Impairment Of The Obligation Of Contracts, Robert E. Walsh S.Ed.
Michigan Law Review
Plaintiff, a stockholder in defendant corporation, sought to enjoin distribution of dividends on a patronage basis. Defendant corporation was organized under the laws of Nebraska for the purpose of buying and selling grain, hay, and other agricultural products with a general reservation in the charter of the right to change, alter, and amend. The articles of incorporation were amended so as to convert the corporation into a co-operative organization distributing profits on the basis of the amount of business done with the corporation. Held, a general reservation of power to amend the articles did not confer on the corporation …
Bankruptcy--Six Months Rule--Application Of The Rule To Private Corporations, Samuel D. Estep S.Ed.
Bankruptcy--Six Months Rule--Application Of The Rule To Private Corporations, Samuel D. Estep S.Ed.
Michigan Law Review
The debtor, being reorganized under chapter 10 of the Bankruptcy Act, was a hotel corporation which owned and operated a hotel in Albany. The reorganization plan which was approved below is being challenged for the reason, among others, that the plan gives preference to certain unsecured creditors. These creditors had furnished supplies to the hotel for a short time before the receiver was appointed in the foreclosure suit which precipitated the bankruptcy proceeding. The trustee allowed the priority on the ground that the supplies were necessary to keep the hotel a going concern and that the six months rule, applicable …
Legal Characteristics And Consequences Of Voting Trusts, J. Gordon Gose
Legal Characteristics And Consequences Of Voting Trusts, J. Gordon Gose
Washington Law Review
Quite frequently it becomes desirable for corporate stockholders to combine the voting power of their stock for a common purpose. The device usually employed to achieve that objective is the voting trust. Under the conventional voting trust arrangement, two or more stockholders transfer the legal title to their stock to a common trustee, who causes new certificates to be issued in his name. The voting trustee then issues voting trust certificates to the beneficial owners of the stock. The terms under which the stock is held in trust are defined by a written voting trust agreement.
Abstracts, Mary Jane Plumer
Abstracts, Mary Jane Plumer
Michigan Law Review
The abstracts consist merely of summaries of the facts and holdings of recent cases and are distinguished from the notes by the absence of discussion.