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Full-Text Articles in Law
Corporations--Liability Of Stockholder In Non-Complying Foreign Corporation
Corporations--Liability Of Stockholder In Non-Complying Foreign Corporation
Michigan Law Review
The defendant was a stockholder in the A corporation, incorporated in Indiana to go business there, but carrying on its principal business in Tennessee where It had failed to comply with a law requiring foreign corporations to domesticate; Plaintiff, a holder of a trade acceptance on which the A corporation was primarily liable, sued defendant in Indiana, liability on the trade acceptance having been incurred in Tennessee. The A corporation being insolvent, plaintiff sought to hold the defendant personally liable on the ground that the failure of the corporation to comply with domestication statutes of Tennessee made its stockholders liable …
The Municipality As A Unit In Ratemaking And Confiscation Cases, Robert D. Armstrong
The Municipality As A Unit In Ratemaking And Confiscation Cases, Robert D. Armstrong
Michigan Law Review
The recent decision of the Supreme Court of the United States in the so-called Martinsville case has been interpreted by some critics as laying down a "municipal unit doctrine" of rate making, denying to a system utility the right to earn from its entire operations a fair return on the value of its entire property, and substituting therefor a "bundle of rights" to earn in each "municipality" served a fair return on the value of the property used and useful therefor.