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Articles 1 - 5 of 5
Full-Text Articles in Law
The Legal Nature Of Collective Bargaining Agreements, Archibald Cox
The Legal Nature Of Collective Bargaining Agreements, Archibald Cox
Michigan Law Review
One reflecting upon the legal nature of a collective bargaining agreement can hardly avoid beginning with the thought that the institution has flourished outside of the courts and administrative agencies and often in the face of legal interference. The law had fallen into disrepute in the world of labor relations because it failed to meet the needs of men. Collective bargaining agreements were negotiated and administered without regard to conventional legal sanctions. Grievance procedures and arbitration evolved into an intricate and highly organized, private judicature. Many experienced and perceptive observers argued that the conventional sanctions for commercial contracts should not …
Taxation - Federal Income Tax - Proceeds From Cancellation Of Contract Treated As Ordinary Income, Jerome B. Libin S.Ed.
Taxation - Federal Income Tax - Proceeds From Cancellation Of Contract Treated As Ordinary Income, Jerome B. Libin S.Ed.
Michigan Law Review
Taxpayer had the exclusive right for a period of ten years to purchase all the coal mined by the operator of certain mines. In 1949 the operator paid taxpayer $500,000 as consideration for the complete acquisition of taxpayer's right and interest in the purchase agreement. Taxpayer reported this sum as a long-term capital gain. The Commissioner claimed that the amount received was ordinary income. The Tax Court upheld taxpayer's contention, indicating that the transaction had resulted in the sale or exchange of a capital asset. On appeal by the Commissioner, held, reversed, one justice dissenting. This transaction was more …
Fiduciary Administration - Nominee Statutes - Transfer Of Securities Held For The Benefit Of Another, Joseph T. De Nicola
Fiduciary Administration - Nominee Statutes - Transfer Of Securities Held For The Benefit Of Another, Joseph T. De Nicola
Michigan Law Review
Michigan is the forty-second jurisdiction to enact a nominee statute. Nominee statutes authorize a fiduciary to nominate a third person to hold stock or securities in the third person's name without giving notice on the stock certificate or on the transfer books of the corporation of his qualified ownership. For the most part it has been assumed that these statutes would facilitate a more rapid transfer of securities. It is the purpose of this comment to compare and analyze these statutes and to determine whether they are the most effective means of accomplishing the end they are intended to serve.
Contracts - Statute Of Frauds - Signature Applicable To Only Part Of A Memorandum, George R. Haydon Jr.
Contracts - Statute Of Frauds - Signature Applicable To Only Part Of A Memorandum, George R. Haydon Jr.
Michigan Law Review
Plaintiff buyer sought specific performance of an alleged contract for the sale of real estate. The instrument, denominated "deposit receipt," acknowledged receipt of the deposit, and then set forth the terms of the trade. This was signed "By Raymond Asmar," the alleged agent of the seller, in the place where the broker normally signs. Following this were two provisions. One, signed by plaintiff, stated that he agreed to purchase the property and that he confirmed the contract. A similar provision immediately following was not signed by defendant seller. The district court dismissed for failure to state a claim on which …
Fiduciary Administration - Compensation - Extra Compensation And The Rule Against Self-Dealing, David Shute
Fiduciary Administration - Compensation - Extra Compensation And The Rule Against Self-Dealing, David Shute
Michigan Law Review
Respondent was a member of a firm of certified public accountants who were actively engaged in assisting decedent work out his income tax difficulties at the time of his death. Under decedent's will respondent was named executor and trustee along with decedent's lawyer and a trust company. The executors employed respondent's partnership to perform services in connection with the estate. The surviving widow and life beneficiary of the estate filed objections to the account of the executors, urging that the rule against self-dealing on the part of fiduciaries precluded respondent from recovering for services performed as an accountant in addition …