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Full-Text Articles in Law

Domestic Corporate Tangible And Intangible Invested Capital, Frederick M. Thulin Jan 1919

Domestic Corporate Tangible And Intangible Invested Capital, Frederick M. Thulin

Michigan Law Review

With a tax law on the statute books that fixes a moderate flat rate of taxation on business income, no question of invested capital need be considered. The income tax laws of 1913 and 1916 and the flat rate or normal tax section of the 1917 law and the proposed 1918 law bear out this statement.


Federal Incorporation, Myron W. Watkins Jan 1919

Federal Incorporation, Myron W. Watkins

Michigan Law Review

The course of development which rate regulation in general in this country passed through is well known. It may be briefly stated as follows: in the early cases it was held that when a state legislature prescribed a scale of maximum charges for a business affected with a public interest they substituted their will for the common law rule of reasonableness, and their determinations were held final and conclusive. This view was gradually modified so as to place a limitation upon the power of the law-making body in accordance with the view that the "use and income of property, as ...


Corporations, Shareholders' Right To Have A Dividend Declared And Paid Out Of Surplus, Horace Lafayette Wilgus Jan 1919

Corporations, Shareholders' Right To Have A Dividend Declared And Paid Out Of Surplus, Horace Lafayette Wilgus

Articles

In Dodge v. Ford Motor Co. (Mich. 1919), 170, N. W. 668, the questions were not new, and with one exception, the decision was not unusual, but the sums involved were enormos. The Motor Company was incorporated in 1903, under the general manufacturing incorporating act of Michigan (P. A. 232, 1903), for the manufacture and sale of automobiles, motors and devices incident to their construction and operation, with an authorized Capital Stock of $150,000-$100,000 then paid up, $49,000 in cash, $40,000 in letters patent issued and applied for, and $11,000 in machinery and contracts ...