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Corporations-Shareholders' Derivative Suits-When Demand On Shareholders Is A Prerequisite To Maintenance Of Suit, Thomas L. Waterbury S.Ed.
Corporations-Shareholders' Derivative Suits-When Demand On Shareholders Is A Prerequisite To Maintenance Of Suit, Thomas L. Waterbury S.Ed.
Michigan Law Review
A shareholder's derivative suit is an equity proceeding instituted by a shareholder on behalf of himself and all other shareholders to assert corporate rights. Both the corporation and the parties allegedly liable to the corporation are necessary parties. The question to be considered in this comment is, when must the plaintiff shareholder show that he sought redress for the corporation through collective action of the shareholders and failed to secure it? As a preliminary matter, we may ask what sort of collective action the shareholders are expected to take. A few authorities suggest that the shareholders, as a body, bring …
Municipal Tort Liability, Allan F. Smith
Municipal Tort Liability, Allan F. Smith
Michigan Law Review
Municipal government in the United States is big business. In 1946, the 397 cities having a population of 25,000 or more spent a total of nearly 3 billion dollars for general governmental expenditures. In 1947 the total increased by 17 per cent to $3,477,000,000. Of that amount, 2½ billion were actual operational expenses for such activities as public safety, public health, sanitation, hospitals, local street and highway maintenance, and schools. Since the figures do not include the amounts expended in connection with municipal water works or municipal street railways, they lend weight to the assertion that our municipal governments are …