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Articles 931 - 960 of 1014
Full-Text Articles in Business Organizations Law
Jurisdiction Over Foreign Corporations, Maxwell E. Fead
Jurisdiction Over Foreign Corporations, Maxwell E. Fead
Michigan Law Review
During the last century, the standing of foreign corporations in our law has been radically changed; and the law on this subject at the present day is far from being in a settled condition. According to the early view, a corporation could have no legal existence outside of the state of its creation. This view was perhaps best expressed by Mr. Chief Justice Taney in his famous dictum in Bank of Augusta v. Earle. "And this corporation can have no legal existence out of the bounds of the sovereignty by which it is created. It exists only in contemplation …
Jurisdiction Over Unincorporated Associations Composed Of Nonresidents
Jurisdiction Over Unincorporated Associations Composed Of Nonresidents
Michigan Law Review
New York has a statute which provides for suits against unincorporated associations consisting of seven or more members. It reads as follows: An action or special proceeding may be maintained, against the president or treasurer of such an association, * * * upon any cause of action, for or upon which the· plaintiff may maintain such action or special proceeding, against all the associates * * *· Any partnership; or other company of persons, which has a president or treasurer, is, deemed an association within the meaning of this section." General Associations Law (Consol. Laws of N. Y.), sec. 13. …
Trusts-Nature Of Massachusetts Or Business Trust
Trusts-Nature Of Massachusetts Or Business Trust
Michigan Law Review
The exact nature and legal incidents of the business trust, better known as the Massachusetts trust, have been put in question several times in recent years. There have been many conflicting decisions, and they represent varying degrees of hostility or favor towards a method of doing business which seems to possess many of the advantages of incorporation without carrying its burdens. It has recently been said: "The different and confusing conceptions of the law upon the subject of the Massachusetts trust, as evidenced by the many decisions of courts of the different states, and in discussions by the text-writers throughout …
Voting Trust Agreements, Maurice Finkelstein
Voting Trust Agreements, Maurice Finkelstein
Michigan Law Review
To the student who approaches the study of the law from the point of view of the legal philosophers-from Von Jhering to Pound-the detailed analysis of the law of private corporations in America will seem strange. Accustomed to think of law as a striving to maintain a balance such as the Poundian balance of social interests, he finds in the corporation law of the United States a co-existence of various systems without regard to the conflict of interests thereby created. Each state has its own rules of law and its own policies shaped by a medley of causes. Many states …
International Law--Witholding Of Political Recognition--Suit By Russian Corporation In Court Of Equity, Edwin D. Dickinson
International Law--Witholding Of Political Recognition--Suit By Russian Corporation In Court Of Equity, Edwin D. Dickinson
Articles
"The plaintiff corporation was incorporated in Russia under the Imperial government. Prior to the Russian Revolution it had deposited certain securities and moneys with the defendant, as trustee, as required by the New York statutes, for the protection of policy-holders and creditors. In this suit to compel the return of the funds the defendant claimed that the plaintiff corporation was no longer in existence because of the Russian Soviet decrees.... Held, that although the court cannot recognize the legal validity of the decrees of the Soviet government, the facts of the situation are such that justice and reason require …
The Russian Reinsurance Case, Edwin D. Dickinson
The Russian Reinsurance Case, Edwin D. Dickinson
Articles
Professor Dickinson's second commentary on Russian Reinsurance Company v. Stoddard and Bankers Trust Company: "The facts in the Russian Reinsurance Company case were without precedent. The Reinsurance Company had been incorporated in Russia in 1899 under a special statute constituting its charter and by-laws.... In 1917 the revolutionary Soviet Government was established in Russia and seven of the eight persons constituting the company's board of directors was driven into exile. In 1918 Soviet decrees nationalized the company, confiscated its property, and apparently terminated its corporate existence. Nevertheless, the exiled directors held meetings in Paris and continued to direct the …
The Passing Of The Partnership By Operation Of Law
The Passing Of The Partnership By Operation Of Law
Michigan Law Review
A case recently decided in the United States Supreme Court, Giles et al. v. Vette et al., Sup. Ct. U. S. Adv. Ops. Jan. 7, 1924, No. 59, gives us another illustration of the clever way in which the codifiers of the UNIFORM PARTNERSHIP ACT steered their course between the epithetical jurisprudence, built upon the case of Waugh v. Carver, [1793] 2 Henry Blackstone, 235, and the jurisprudence of realities, derived from the interpretation of Cox v. Hickman, [1861] 8 H. of L. cases, 268, by the English court in Mollwo v. Court of Wards, [1872] …
Recent Important Decisions
Michigan Law Review
A collection of recent important court decisions.
Recent Important Decisions
Michigan Law Review
A collection of recent important court decisions.
Public Utility Valuation, Edwin C. Goddard
Public Utility Valuation, Edwin C. Goddard
Articles
It has been so often remarked that the "valuation" of public utilities is determined by no rule of thumb, that there are no fixed rules or formulas to guide courts or commissions, that determination of value as a rate base is matter of judgment and discretion in each case, Minnesota Rate Cares, 230 U. S. 352, 434, that the statement has come to be believed by reason in part of its much repetition. It is usually accepted as axiomatic. The glorious uncertainty resulting from such an admission will continue so long as judgments of one man or set of men …
Is A Municipal Fuel Yard A 'Public Service Plant'?, Evans Holbrook
Is A Municipal Fuel Yard A 'Public Service Plant'?, Evans Holbrook
Articles
In Consumers' Coal Co. et al. v. City of Lincoln, et al. (Neb. 1922) 189 N. W. 643, the supreme court of Nebraska held that a municipal fuel-yard, selling fuel at retail to the inhabitants of the city, was not a "public service plant" authorized by a section of the city charter which empowered the city to acquire, own and operate gas and electric plants, street railways, telephone plants, "and any and all other public service plants and properties, for the purpose of supplying the city and the inhabitants thereof with such service and public utilities." The suit was brought …
Equity-Federal Court Requirements As To Bringing Suits By A Shareholder In The Name Of The Corporation
Michigan Law Review
It cannot "successfully be argued that it is a matter of course for any individual members of a corporation to assume to themselves the right of suing in the name of the corporation." The corporation and its aggregate members are not the same in law nor in equity. In the equity practice of our federal courts the conditions under which a shareholder can bring a suit have not run a smooth course.
Recent Important Decisions, Michigan Law Review
Recent Important Decisions, Michigan Law Review
Michigan Law Review
No abstract provided.
Recent Important Decisions, Michigan Law Review
Recent Important Decisions, Michigan Law Review
Michigan Law Review
Admiralty - Workmen's Compensation - Is a Hydroplane a Vessel? - Claimant was employed in the care and management of a hydroplane which was moored in navigable waters. The hydroplane began to drag anchor and drift toward the beach, where it was in danger of being wrecked. Claimant waded into the water and was struck by the propeller. Held, claimant is not entitled to compensation under the Workmen's Compensation Law, since a hydroplane while on navigable waters is a vessel, and therefore the jurisdiction of the admiralty excludes that of the State Industrial Commission. Reinhardt v. Newport Flying Service Corp. …
Recent Important Decisions, Michigan Law Review
Recent Important Decisions, Michigan Law Review
Michigan Law Review
Carriers of Passengers - Duty to Stop at Station to Permit Passenger to Alight-Contributory Negligence of Passenger Plaintiff's intestate was riding in the front end of a crowded vestibule car in the coach next to the tender of the eengine. When the train stopped at his station he tried to leave by the front end, but found the door from the vestibule closed. As he did not know how to open it, or was unwilling to be carried by his station, he stepped from his platform to the bumper of the tender and tried to follow it to the side …
Purchase Of Shares Of Corporation By A Director From A Shareholder, Harold R. Smith
Purchase Of Shares Of Corporation By A Director From A Shareholder, Harold R. Smith
Michigan Law Review
As suggested by the title to this paper, a discussion of the relationship between the directors of a corporation and the corporate entity is not within its scope. Neither is the lrelationship between the directors-and the entire body of the shareholders. These two subjects are generally treated in another branch of the law of corporations and generally are not governed by the same rules of law.' The purchase of shares of stock by a director from a nonofficial shareholder naturally brings into question the relationship between the director and the shareholder in his individual capacity, and not in his capacity …
Trust Company In Michigan, Ralph Stone
Trust Company In Michigan, Ralph Stone
Michigan Law Review
A trust company in Michigan is a financial and business institution. It came into being, in this state -as elsewhere, in response to the need for an efficient and business-like organization to administer estates and trusts of all kinds as a relief to the individual executor, administrator and trustee. The ever -increasing complications of business and finance placed a burden upon the individual- the relative, the friend, or the business associate-which he found he could not carry without considerable sacrifice either to his own interests or to those of the trust. Those who create trusts either by will, or private …
Watered Stock Commissions Blue Sky Laws Stock Without Par Value, William W. Cook
Watered Stock Commissions Blue Sky Laws Stock Without Par Value, William W. Cook
Michigan Law Review
Stockholders' exemption from liability for corporate debts is a modern invention. It was not until 18x1 that New York extended that exemption to stockholders in manufacturing corporations.' Massachusetts did not grant it until 1830.2 England did not allow it to stockholders in business and manufacturing cornpanies until I855. s As President Eliot of Harvard has pointed out, this privilege of limited liability is "the corporation's most precious characteristic."'
Respective Rights Of Preferred And Common Stockholders In Surplus Profits, George Jarvis Thompson
Respective Rights Of Preferred And Common Stockholders In Surplus Profits, George Jarvis Thompson
Michigan Law Review
The movement in the field of co5perative commercial undertakings has been; school-book-like, a movement from the simple to the complex, from the common-la* sitaation of persons associating together to conduct a busines for profit to the modern statutory association and the corporation possessing an enormous capital ,derived from a host of individuals whose respective interests are represented -by various -classes -of transferable shares.
Public Utility Valuation - Cost Of Reproduction Theory And The World War, Edwin C. Goddard
Public Utility Valuation - Cost Of Reproduction Theory And The World War, Edwin C. Goddard
Articles
The very grave objections to the cost-of-reproduction theory of valuation of public utilities was pointed out at large in 15 MICH. L. REV. 205. The violent price changes following the World War have greatly increased the weight of these objections to calling anything a base which rests on such uncertainties and fluctuations as cost-of-reproduction. A base should be stable, but this has the stability Of a flying machine. There had been a rising curve of costs from 1893 to 1916, but since that date the rise has been almost vertical. The public utilities by- the thousands desire to take advantage …
Public Utilities—Franchise Rates As Affected By The World War, Edwin C. Goddard
Public Utilities—Franchise Rates As Affected By The World War, Edwin C. Goddard
Articles
The economic convulsions due to the World War are abundantly reflected in the relations between the public and their public utilities operating under franchises fixing rates for service. The enormous rise in cost of labor and materials has, in many cases, so reduced the net income of such utilities as to make it a negative quantity at existing franchise rates. The utilities are crying to be saved from bankruptcy, but the unfortunate suspicion bred by past dealings of many such companies has made the public skeptical, and perhaps in many cases entirely unreasonable. In some cases plain selfishness may explain …
Domestic Corporate Tangible And Intangible Invested Capital, Frederick M. Thulin
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.