Law Commons^™

An Approach To The Regulation Of Spanish Banking Foundations, Miguel Martínez

Miguel Martínez

The purpose of this paper is to analyze the legal framework governing banking foundations as they have been regulated by Spanish Act 26/2013, of December 27th, on savings banks and banking foundations. Title 2 of this regulation addresses a construct that is groundbreaking for the Spanish legal system, still of paramount importance for the entire financial system insofar as these foundations become the leading players behind certain banking institutions given the high interest that foundations hold in the share capital of such institutions.

Insuring Floods: The Most Common And Devastating Natural Catastrophies In America, Christopher French

Christopher C. French

The Evolution Of The Digital Millennium Copyright Act; Changing Interpretations Of The Dmca And Future Implications For Copyright Holders, Hillary A. Henderson

Hillary A Henderson

Copyright law rewards an artificial monopoly to individual authors for their creations. This reward is based on the belief that, by granting authors the exclusive right to reproduce their works, they receive an incentive and means to create, which in turn advances the welfare of the general public by “promoting the progress of science and useful arts.” Copyright protection subsists . . . in original works of authorship fixed in any tangible medium of expression, now known or later developed, from which they can be perceived, reproduced, or otherwise communicated, either directly or with the aid of a machine or …

Corporate “Soul”: Legal Incorporation Of Catholic Ecclesiastical Property In The United States - A Historical Perspective, Vicenç Feliú

Vicenç Feliú

This work is a revision and update of a study carried out in 1933 by Monsignor Patrick J. Dignan. Dignan’s purpose in his study was to outline the history of how the Roman Catholic Church secured laws for the protection of church property in accordance with the hierarchical nature of the Church. The purpose of the present article is to bring up to date Dignan’s work and complete a survey of the law in its present state. The article analyzes the differences in the law since the original survey to determine if Dignan’s conclusion that the Church should operate to …

Corporation Sole - Appendix A, Vicenç Feliú

Vicenç Feliú

This work is a revision and update of a study carried out in 1933 by Monsignor Patrick J. Dignan. Dignan’s purpose in his study was to outline the history of how the Roman Catholic Church (the Church) secured laws for the protection of church property in accordance with the hierarchical nature of the Church. The purpose of the present article is to bring up to date Dignan’s work and complete a survey of the law in its present state. As a secondary purpose, the present article also provides legal reference librarians with a unified collection of the laws controlling Church …

Corporation Sole - Appendix B, Vicenç Feliú

Vicenç Feliú

This work is a revision and update of a study carried out in 1933 by Monsignor Patrick J. Dignan. Dignan’s purpose in his study was to outline the history of how the Roman Catholic Church (the Church) secured laws for the protection of church property in accordance with the hierarchical nature of the Church. The purpose of the present article is to bring up to date Dignan’s work and complete a survey of the law in its present state. As a secondary purpose, the present article also provides legal reference librarians with a unified collection of the laws controlling Church …

Catholic Social Thought And The Reality Of The Corporation, Michael Lp Lower

Michael LP Lower

The debate about whether society, the corporation and any other type of "universal" has a reality outside of the mind is an old one. Catholic Social Thought (CST) sees the corporation as a community of persons. It has an existence (a life and ability to operate) of its own and is oriented to the good of its participants. This view is contrasted with the nexus of contracts approach, Williamson's Transaction Cost Economics approach and some types of stakeholder theory. It is contended that CST's approach is more realistic.

Employee Participation In Corporate Governance: An Ethical Analysis, Michael Lp Lower

Michael LP Lower

This paper outlines why CST has called for employees to be involved in the governance of the firms that they work for and a share in ownership. It points out the economic issues involved as part of its broader ethical analysis. The John Lewis Partnership is pointed to as a good working model. The possible use of ESOPs to bring about desirable changes is considered. The case for mandatory codetermination is outlined.

Christian Anthropology And The Theory Of The Firm, Michael Lp Lower

Michael LP Lower

Catholic social thought (CST), a branch of moral theology, reflects Christian anthropology (an understanding of human nature that draws on Revelation and natural law theory). CST's understanding of what communities (such as the corporation) are for and how they can best achieve their ends are coloured by its anthropological underpinnings. The same, it is argued, is true for economic theories such as the theories of the firm based on Coase. This paper compares Christian anthropology with the implicit anthropology underpinning some of the dominant economic theories of the firm. Differences at this level go a long way to explaining mismatches …

Natural Law And Agency Theory, Michael Lp Lower

Michael LP Lower

Corporate governance scholarship is awash with theories of the firm: these are "stories" or metaphors that try to shed light on the nature and purpose of the firm as an institution and on one or more of the following questions:

(i) how the institution of the firm "evolved" (or its economic or social purpose); (ii) whether "the firm" is a reality or a rhetorical device; and (iii) the relationship between "the firm" and stakeholders, political society and so on.

Theories of the firm are used both to explain and to help develop law and policy. If the theory is misconceived, …

Shareholders, Unicorns And Stilts: An Analysis Of Shareholder Property Rights, Benedict Sheehy

Benedict Sheehy

Abstract: Shareholders rights advocates argue that shareholders have the right to control the corporation. This article examines the basis for the claims. It begins with an analysis of rights, then moves to an analysis of legal rights, which is followed by an analysis of property rights as a species of legal rights. The article then examines the historical context, rationale and development of shareholder rights which leads to the analysis of current shareholders’ rights. The article concludes with some comments and suggestions concerning future development of corporate governance thinking.