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Articles 9991 - 10020 of 10775
Full-Text Articles in Law
Corporations - Appraisal Statutes - Elements In Valuation Of Corporate Stock, John C. Baity
Corporations - Appraisal Statutes - Elements In Valuation Of Corporate Stock, John C. Baity
Michigan Law Review
The purpose of this comment is to consider the elements of stock valuation generally applicable under the statutory appraisal remedies, and to analyze in some detail the interpretation of such a statute in one jurisdiction-Delaware.
Corporations - Watered Stock - Rejection Of Statutory Obligation Theory, Michael Mcnerney S.Ed.
Corporations - Watered Stock - Rejection Of Statutory Obligation Theory, Michael Mcnerney S.Ed.
Michigan Law Review
Plaintiff, a judgment creditor of a corporation in which defendant was a stockholder, sued for the difference between the aggregate par value of the defendant's shares and the value of the consideration he paid to the corporation for them. After a verdict for plaintiff, the trial court granted a motion for a new trial. On appeal, held, affirmed. Liability of shareholders for watered stock is based on the misrepresentation theory in California, and there was no evidence that plaintiff relied on the stated capital in extending credit. Bing Crosby Minute Maid Corp. v. Eaton, (Cal. 1956) 297 P. …
Corporations - Promotion - Discharge Of Promoter's Liability As Bidder At A Bankruptcy Sale, John Morrow
Corporations - Promotion - Discharge Of Promoter's Liability As Bidder At A Bankruptcy Sale, John Morrow
Michigan Law Review
On October 1, defendant made the high bid at a bankruptcy sale of hotel properties as "Mr. Ash, trustee." Later that same day a certificate of incorporation was executed for a corporation with Ash as treasurer. On October 4 the proper corporate papers were filed with the secretary of state. On October 4 the receivers receipted for the earnest money deposit, the instrument acknowledging, as interpreted by the court, that the receivers would look to the corporation to complete the contract and would not look to Mr. Ash personally. On October 14, the referee confirmed the sale to "Mr. Ash, …
Edwards: Big Business And The Policy Of Competition, Carl H. Fulda
Edwards: Big Business And The Policy Of Competition, Carl H. Fulda
Michigan Law Review
A Review of Big Business and the Policy of Competition By Corwin D. Edwards.
Corporations - Securities: Regulation - Parent Corporation As Insider Realizing Shortswing Profit, Allan L. Bioff
Corporations - Securities: Regulation - Parent Corporation As Insider Realizing Shortswing Profit, Allan L. Bioff
Michigan Law Review
Parent corporation, owning a majority of the outstanding voting securities of its subsidiary, sold 120,000 shares of the subsidiary's common stock. A substantial shortswing profit was realized on 4115 shares which had been purchased on the open market five months earlier. The sale, whereby the parent was to divest itself of control of its subsidiary, was made pursuant to an agreement between both companies and approved by a majority of the voting stock of each. Section 16 (b) of the Securities Exchange Act of 1934 provides that officers, directors and beneficial owners of more than ten percent of any class …
Business Associations - Uniform Limited Partnership Act - Corporation As A Limited Partner, Richard Singer
Business Associations - Uniform Limited Partnership Act - Corporation As A Limited Partner, Richard Singer
Michigan Law Review
The Port Arthur Trust Co., a Texas corporation, sought to enter into a limited partnership agreement as a limited partner. Its capital contribution was to be three trusts established by the prospective general partner wherein the trust company had been named trustee. The secretary of state refused to file the instrument creating the limited partnership on the grounds "that it was necessary for a corporation to have express charter powers" before it can, enter into a limited partnership, and that "a corporation is not a 'person' " within the meaning of the Texas Uniform Limited Partnership Act. The corporation then …
Corporations - Stockholders - Availability Of Federal Remedy As Basis For Denial Of Attorney Fees In Derivative Action, Jerome Prewoznik
Corporations - Stockholders - Availability Of Federal Remedy As Basis For Denial Of Attorney Fees In Derivative Action, Jerome Prewoznik
Michigan Law Review
Defendants were directors of Merritt, Chapman and Scott Corporation and of Montgomery Ward & Co., Inc. simultaneously. Plaintiff, a stockholder in Merritt, instituted a derivative suit to compel the resignation of defendants from their positions with Ward on the ground that an interlocking directorate existed making Merritt subject to criminal and civil prosecution under federal law. Defendants resigned before judgment. Plaintiff, arguing that its suit was the cause of the resignations and that Merritt was thereby benefited, moved for an award of counsel fees to be assessed against Merritt. Held, application for counsel fee denied. Plaintiff could have achieved …
Corporations - Dividends - Date From Which Cumulative Dividends Accrue, Dudley Chapman
Corporations - Dividends - Date From Which Cumulative Dividends Accrue, Dudley Chapman
Michigan Law Review
Defendant corporation issued preferred stock in 1937 under a charter amendment which provided that such stock should " ... pay dividends at the rate of six percent ... , but when not so earned and paid, the dividends so provided shall be cumulative. Said dividends shall be paid annually beginning the Fifteenth (15th) day of March, 1938... " The plaintiff held 100 shares of defendant's preferred stock issued in 1945, and the above provision appeared on his certificate. During dissolution of the defendant in 1955, the plaintiff claimed cumulative dividends from 1938 as an innocent purchaser for value, basing his …
Municipal Corporations - Zoning - Exclusion Of Churches From Residential Area, William R. Luney S.Ed.
Municipal Corporations - Zoning - Exclusion Of Churches From Residential Area, William R. Luney S.Ed.
Michigan Law Review
In two recent New York cases churches sought permits to use residential property for church purposes, including worship, social gatherings, construction of an adjacent parking lot, and, in one case, establishment of a school and playground. In each case the zoning board denied the permit on grounds that a church would change the residential character of the neighborhood, decrease the enjoyment of neighboring property, depreciate property values, and that the contemplated use of the property for other than worship was prohibited by the ordinance. The lower court upheld the decisions of both zoning boards. On appeal to the New York …
Insurance Law—Third Party Practice—Cooperation, Richard F. Griffin
Insurance Law—Third Party Practice—Cooperation, Richard F. Griffin
Buffalo Law Review
Am. Surety Co. of N.Y. v. Diamond, 1 N. Y. 2d 594, 136 N. E. 2d 876 (1956).
Comments, Various Authors
Miscellaneous—Corporations—Stockholders’ Agreements, Robert Miller
Miscellaneous—Corporations—Stockholders’ Agreements, Robert Miller
Buffalo Law Review
Arbitration between Burkin and Katz, 1 N. Y. 2d 570, 136 N. E. 2d 862 (1956).
Tax Considerations In Organizing A Corporation, Marvin D. Kelner
Tax Considerations In Organizing A Corporation, Marvin D. Kelner
Cleveland State Law Review
It is almost impossible, and certainly impractical, to prepare a definitive checklist of incorporation procedures, which will guarantee complete safeguard for all of the "watchdog sections" of the present Internal Revenue Code and further guarantee the lowest tax burden for the corporation and its stockholders. The most that any careful lawyer can do is to apply known and foreseeable procedures, which have been tried and tested in the courts, to any particular company he is engaged in incorporating.
Agency - Apparent Authority - Liability Of Corporation On Unauthorized Note Of General Manager, Thomas A. Troyer
Agency - Apparent Authority - Liability Of Corporation On Unauthorized Note Of General Manager, Thomas A. Troyer
Michigan Law Review
Welch, the general manager, executive vice-president, treasurer, and director of petitioner corporation, requested that respondent, a salesman employed by the corporation, loan petitioner $25,000. Respondent complied, and Welch executed and delivered to respondent a note for the amount of the loan, signed by himself as vice-president and treasurer. After Welch had appropriated the money to his own uses, respondent obtained a judgment by confession against petitioner on the note. On trial of a petition to open the judgment, held, dismissed. Welch had acted with apparent authority in giving respondent petitioner's note, respondent had reasonably relied upon this appearance in …
Corporations - Stockholder's Suit - Necessity Of Demand On Other Stockholders In Derivative Action, John C. Dowd
Corporations - Stockholder's Suit - Necessity Of Demand On Other Stockholders In Derivative Action, John C. Dowd
Michigan Law Review
In two related cases, a holder of common stock brought a derivative suit against the directors of his corporation claiming their illegal acts had deprived the corporation of assets. On defendants' motion to dismiss and for summary" judgment, held, judgment for the defendants. Plaintiff's failure to allege either that he had presented his claim to the stockholders at a stockholders' meeting or that a majority of the stockholders' votes were under the control of the directors defeated his action. Carroll v. New York, New Haven & Hartford R.; Glenmore v. Alpert, (D.C. Mass. 1956) 141 F. Supp. 456.
Corporations - Ultra Vires Act - Effectiveness Of Action By Informal Meeting Of Board Of Directors, Guy Maxfield
Corporations - Ultra Vires Act - Effectiveness Of Action By Informal Meeting Of Board Of Directors, Guy Maxfield
Michigan Law Review
Defendant insurance company issued a policy on the life of the president of plaintiff corporation with the corporation named as beneficiary. The president, his wife in the capacity of secretary-treasurer, and son were the sole stockholders of the corporation. Pursuant to a divorce agreement between the president and his wife, a part of the insurance policy was assigned to the wife at an informal board of directors' meeting with the concurrence of the wife and son. The president died and his stock was sold to the present stockholders. The corporation then sued the insurance company to collect the full amount …
Section 4 Of The Bankruptcy Act: The Excluded Corporations, Michael I. Sovern
Section 4 Of The Bankruptcy Act: The Excluded Corporations, Michael I. Sovern
Faculty Scholarship
Section 4 of the Bankruptcy Act excludes from both voluntary and involuntary bankruptcy municipal, railroad, insurance and banking corporations and building and loan associations, and excludes from involuntary bankruptcy corporations that are not "moneyed, business or commercial." The exclusion of railroad and municipal corporations lost much of its significance when special reorganization provisions were enacted for those corporations. Insurance and banking corporations and building and loan associations, on the other hand, are excluded from the Bankruptcy Act's corporate reorganization chapters as well as from straight bankruptcy; and creditors can no more compel a corporation that is not moneyed, business or …
Corporations--Conflict Between By-Laws, Charters Or Statutes And Long Term Employment Contracts, Wayne Carroll
Corporations--Conflict Between By-Laws, Charters Or Statutes And Long Term Employment Contracts, Wayne Carroll
Kentucky Law Journal
No abstract provided.
Partnership--Tests And Indicia Of The Relation--Co-Owners As Partners, Henry R. Snyder
Partnership--Tests And Indicia Of The Relation--Co-Owners As Partners, Henry R. Snyder
Kentucky Law Journal
No abstract provided.
Partnership--Rights And Liabilities As To Third Persons--Estoppel As Basis Of Liability, Henry R. Snyder
Partnership--Rights And Liabilities As To Third Persons--Estoppel As Basis Of Liability, Henry R. Snyder
Kentucky Law Journal
No abstract provided.
Ultra Vires Contracts Under Modern Corporate Legislation, Willburt D. Ham
Ultra Vires Contracts Under Modern Corporate Legislation, Willburt D. Ham
Kentucky Law Journal
No abstract provided.
Molding The Corporate Form To Particular Business Situations: Optional Charger Clauses, F. Hodge O'Neal
Molding The Corporate Form To Particular Business Situations: Optional Charger Clauses, F. Hodge O'Neal
Vanderbilt Law Review
This paper looks into the usefulness of optional (or as they are sometimes called, "permissive" or "special") charter provisions' in molding the corporate form of business organization to meet the diverse needs of particular business situations. It first examines statutory materials and judicial decisions bearing on the validity and effect of optional provisions. It then considers optional clauses in current use and typical legal and business problems that optional clauses may help to solve. It shows that optional clauses often can be used to clarify the rights and other relations of participants in an enterprise, to avoid disadvantageous corporate "norms," …
Corporations - Employee Stock Option Plans - Nature Of Consideration Required For Valid Plan, Richard E. Day
Corporations - Employee Stock Option Plans - Nature Of Consideration Required For Valid Plan, Richard E. Day
Michigan Law Review
Restricted stock option plans, approved by a majority of the stockholders, were adopted by the defendant corporation in 1951 and 1952 pursuant to, and in compliance with, section 218 of the Revenue Act of 1950, for the purpose of" ... providing an incentive to participating key executive employees in the form of an opportunity to acquire a greater proprietary interest in the corporation and thus stimulate their efforts in the corporate welfare .... " The options were effective and exercisable anytime from the date of issuance to the end of a five-year period, with provision for termination three months after …
Corporations - Statutes Providing For Both Cumulative Voting And Classified Boards, David W. Swanson S.Ed.
Corporations - Statutes Providing For Both Cumulative Voting And Classified Boards, David W. Swanson S.Ed.
Michigan Law Review
The shareholders of the Winous Company amended the articles of incorporation to provide for staggered elections whereby one of the three directors would be elected each year to serve a three-year term. The Ohio Code provides for classified boards, and contains a guarantee of the right to vote cumulatively which is not to be restricted by the articles of incorporation. The county court of appeals reversed the court of common pleas and held the amendment invalid because it nullified the right to vote cumulatively. They interpreted the cumulative voting provision as specific and therefore a limitation on the more general …
Civil Procedure And Evidence—Res Judicata—Closed Corporations, Richard G. Birmingham
Civil Procedure And Evidence—Res Judicata—Closed Corporations, Richard G. Birmingham
Buffalo Law Review
In re Shea's Will, 309 N.Y. 605, 132 N.E. 2d 684 (1956).
The Role Of The Corporation Counsel, William T. Gossett
The Role Of The Corporation Counsel, William T. Gossett
Washington and Lee Law Review
No abstract provided.
Business Associations -- 1956 Tennessee Survey, F. Hodge O'Neal
Business Associations -- 1956 Tennessee Survey, F. Hodge O'Neal
Vanderbilt Law Review
Surprisingly few cases were decided in the field of Business Associations during the survey period. Those decisions for the most part merely reaffirmed legal principles already established in Tennessee law. One of the cases, Wyatt v. Brown,' raised again the interesting old question of what is a partnership and what factual elements are necessary to constitute the partnership relation. This article discusses that question first and then comments rather briefly on the other cases and the principles they enunciate.
Corporations, Arthur T. Lane
Corporations, Arthur T. Lane
Washington Law Review
Covers cases on appraisal statutes—remedies of dissenting shareholders.
Procedures For Meetings And Organizations, Innis Christie
Procedures For Meetings And Organizations, Innis Christie
Dalhousie Law Journal
Why would an academic psychologist and an academic engineer write a book about "how to set up organizations" and run their meetings? The authors do not answer that question in their preface so we are free to speculate that this is their escape from the "meeting madness" that threatens every academic. They have attempted not only to bring some order into that omnipresent aspect of their own lives but also to share the fruits of their efforts with the rest of us in this very fine handbook.
Municipal Corporations (Survey Of Virginia Case Law - 1955), William T. Prince
Municipal Corporations (Survey Of Virginia Case Law - 1955), William T. Prince
William and Mary Review of Virginia Law
No abstract provided.