Law Commons^™

The Forgotten Derivative Suit, Kenneth B. Davis, Jr.

Vanderbilt Law Review

One of U.S. corporate law's most salient features is its flexibility. Those who control and manage the corporation are given a long leash. This is particularly evident when the United States is compared with other countries in studies like the World Bank's annual Doing Business project. According to the detailed study that developed the World Bank methodology for measuring investor protection,1 the United States scored a 0.33 for "ex ante private control of self-dealing." This was not only below the world average of 0.36, but also well below the 0.58 average for common law countries. The United Kingdom, in contrast, …

High-Deductible Health Plans: New Twists On Old Challenges From Tort And Contract, E. Haavi Morreim Ph.D.

Vanderbilt Law Review

In just a few decades American health care financing has, in a sense, come full circle. After being largely patient-financed in the early twentieth century, generous insurance coverage in mid-century largely permitted providers to do as they wished and charge what they pleased-an Artesian Well of Money that left patients and physicians well-insulated from the costs of care. That system's inevitable explosion of costs spurred urgent efforts to contain health care expenditures, as payors sought to control or at least influence medical decisions. In many ways this "managed care" was clinically vexatious and economically disappointing. Its medically intrusive tactics have …

The Voluntary Practices: The Last-Gasp Of Big Time College Football And The Ncaa, Sarah Lemons

Vanderbilt Journal of Entertainment & Technology Law

College football is desperately in need of new NCAA rules governing voluntary practices and the real problem is that coaches will always find a way to slip around the rules in order to seize the rewards of winning. Therefore, the NCAA must perform its duty and reform the rules to protect the health and well being of the collegiate football player, because as a voluntary association of a coalition of 960 member colleges, it has been given the authority to adopt rules governing its member institutions' recruiting, eligibility, financial aid and admissions.

Part II of this Note will begin by …

Bailor Beware: Limitations And Exclusions Of Liability In Commercial Bailments, A. Darby Dickerson

Vanderbilt Law Review

Although people enter into bailment agreements every day, the diversity and significance of bailments generally are unknown to lay persons and ignored by lawyers. This neglect stems in part from the antiquity of bailment and from its overlap with other branches of the law.' One commentator has stated that "bailment stands at the point at which contract, tort, and property law converge," representing a contractual conveyance of personal property that is enforceable in tort. Although bailment draws from other areas of the law, it retains a separate legal personality whose independent character has yet to be fully explored.The term "bailment," …

An Historical Perspective On The Duty Of Care, The Duty Of Loyalty, And The Business Judgment Rule, Marcia M. Mcmurray

Vanderbilt Law Review

For more than two hundred years courts have attempted to define the status and character of corporate directors and officers in an effort to establish and delineate their responsibilities and liabilities. In Charitable Corp. v. Sutton,' an eighteenth century English case, the Lord Chancellor described corporate directors as both agents and trustees. This mixed characterization was adopted and subsequently persisted in later American cases until courts finally determined that directors and officers are fiduciaries"who have a "distinct legal relationship" with the corporation. As fiduciaries, directors and officers must conform to the duty of care'and the duty of loyalty, duties that …

Recent Developments Concerning The Duty Of Care, The Duty Of Loyalty, And The Business Judgment Rule, Patricia A. Daniel

Vanderbilt Law Review

The judiciary faces a difficult task in attempting to define the proper standards of conduct for corporate directors and officers. Although courts have enunciated various standards, the prevailing theme has been that corporate directors and officers are fiduciaries who have a "distinct legal relationship" with the corporation and its shareholders. As fiduciaries, directors and officers must con-form to the duty of care and the duty of loyalty. The business judgment rule, which creates a presumption of propriety for directors' and officers' substantive business decisions, developed concurrently with these duties. Several recent court decisions concerning corporate director and officer liability appear …

The Duty Of Care And The Duty Of Loyalty In The Revised Model Business Corporation Act, Thomas A. D'Ambrosio

Vanderbilt Law Review

In 1950 the Committee on Corporate Laws of the Section of Corporation, Banking and Business Law of the American Bar Association (the Committee) adopted the Model Business Corporation Act (Model Act or MBCA). The Committee drafted the Model Act in order to provide a dynamic model for keeping state corporation laws updated and responsive to the current demands of the business and legal communities.' Because of this goal, the Model Act was in a constant state of revision. This constant state of revision provided an impetus for the Committee to adopt, in 1984, the Revised Model Business Corporation Act (Revised …

The Corporate Governance Debate And The Ali Proposals: Reform Or Restatement?, Kathryn N. Fine

Vanderbilt Law Review

Much of the debate concerning corporate governance centers on the American Law Institute's proposed Principles of Corporate Governance [hereinafter ALI Proposals or ALI Principles].' The "restate" the law of corporate governance without departing from the primary goal stated in the ALI's charter: "to promote the clarification and simplification of the law and its better adaptation to social needs."' The ALI Proposals, however, have evolved into a"new art form"' and, unlike a restatement, have proposed reforms in addition to codifying the common law. Because of the predominance of statutory corporation law, the ALI Proposals have focused selectively on those areas that …

Landlord Liability For Crimes Committed By Third Parties Against Tenants On The Premises, Irma W. Merrill

Vanderbilt Law Review

The controversial subject of landlord liability for crimes committed by third parties on the apartment premises has been the subject of much debate. The discussion has produced a scattering of opinions rather than one settled rule. Not all jurisdictions agree that a landlord should be held liable to his tenants for crimes on the premises. Even jurisdictions that do hold landlords liable for such crimes disagree on the basis for liability. Some courts ground their decisions in contract. Other courts conjure landlord liability out of an implied warranty of habitability. Still other courts impose landlord liability for third party crimes …

Torts -- 1963 Tennessee Survey, John W. Wade

Vanderbilt Law Review

The elements of a valid cause of action in negligence are specifically enumerated by Justice Holmes of the Tennessee Supreme Court in the case of Ruth v. Ruth:

1. A duty of care owed by the defendant to the plaintiff.

2. A failure on the part of the defendant to perform that duty.

3. An injury to the plaintiff resulting proximately from the defendant's breach of that duty of care.

This outline will be used for the treatment of general questions of negligence, and particular fact situations will then be subsequently treated.

The Care Required Of Medical Practitioners, Allan H. Mccoid

Vanderbilt Law Review

"Into whatever houses I enter, I will go into them for the benefit of the sick, and will abstain from every voluntary act of mischief and corruption." -Oath of Hippocrates.

These words, allegedly formulated by the "Father of Medicine,"define the duties which physicians and surgeons over the years have sworn to perform toward those whom they undertake to treat. Like many oaths, however, the noble sentiments of the Greek physician are not sufficient to provide protection for the public. This is evidenced by the fact that over the twenty year period from 1935 to 1955, according to a survey made …

Professional Negligence Liability Of Public Accountants, Carl S. Hawkins

Vanderbilt Law Review

At least since 1905, in this country, accountants have been recognized as "a skilled professional class ... subject generally to the same rules of liability for negligence in the practice of their profession as are members of other skilled professions."' The question, then, is not whether the usual concepts of professional negligence apply to accountants, but how. What situations have produced malpractice litigation? What are the specific practices or omissions which have resulted in liability? And what are the limits of liability? Like other professionals, the accountant usually gets into the position where he must exercise his professional skill as …