Law Commons^™

Municipal Securities Rulemaking Board: A New Concept Of Self-Regulation, Roswell C. Dikeman

Vanderbilt Law Review

The municipal securities industry, an important segment of the national capital markets, directly affects both the quality of life and the pace of community development throughout the nation. Municipal securities, broadly defined to include all debt securities issued or guaranteed by the states and their political subdivisions,' are the vehicle by which states, their agencies, and local governments finance both long- and short-term debt requirements. In calendar 1975, for example, the municipal securities industry raised approximately 29.2 billion dollars in long-term issues. In 1973, 8,147 long- and short-term issues raised almost 48 billion dollars, or approximately one-quarter of all direct …

Recent Cases, Walter S. Weems, Mary M. Schaffner, Ronald G. Harris

Vanderbilt Law Review

Constitutional Law-State and Local Tax-- Nondiscriminatory Ad Valorem Property Tax on Imports Stored in Warehouse Pending Sale Is Not Prohibited by Import-Export Clause

The framers of the Constitution enacted the import-export clause with the apparent intent that it remedy shortcomings of the Articles of Confederation and achieve specified national goals. Since the Articles of Confederation allowed individual states to regulate commerce as they saw fit, the seaboard stales, through whose ports goods in foreign commerce had to pass, were able to impose duties on imports destined for inland states. One reason for the import-export clause was to preserve harmony among …

The Act Of State Doctrine: Alfred Dunhill Of London, Inc. V. Republic Of Cuba, John S. Williams

Vanderbilt Journal of Transnational Law

With its decision in Alfred Dunhill of London, Inc. v. Republic of Cuba, the Supreme Court has, for the third time in twelve years, rendered a significant if not landmark ruling on the act of state doctrine. Before 1964 the Court had not decided a case involving that doctrine for more than twenty years. During that intervening period many questions were raised in the learned writings on the subject, and the controversial decision, Bernstein v. N. V. Nederlandsche-Amerikaansche, etc., was decided by the Second Circuit Court of Appeals in New York.