Commercial Law Commons^™

Insider Liability For Short-Swing Profits Pursuant To Mergers And Related Transactions, James P. Hemmer

Vanderbilt Law Review

This article considers the problems presented by the application of section 16(b) of the Securities Exchange Act of 1934 to corporate merger transactions. Mr. Hemmer argues that the"matching across" proposal, which has been suggested by some commentators, should not be applied to the merger situation. Instead, the author advocates that the "possibility of abuse" test, which the courts have applied to conversion transactions, should also. be applicable to the corporate merger. Mr. Hemmer feels this approach will prevent the abuses for which section 16(b) was enacted and, at the same time, provide the courts with a flexible test for this …

Recent Developments In Products Liability Law In Pennsylvania, Warren W. Faulk

Villanova Law Review (1956 - )

No abstract provided.

The Irregular Issuance Of Warehouse Receipts And Article Seven Of The Uniform Commercial Code, Douglass G. Boshkoff

Michigan Law Review

The draftsmen of Article Seven were well aware of the problems caused by irregular issuance of warehouse receipts and there will be fewer problems of irregularity under the Code for two reasons. First, the Code's formal requirements for issuance of warehouse receipts are less stringent than are those imposed by the UWRA, thereby lessening the chances of any irregularity occurring. Second, the Code contains two sections which aim to minimize the consequences of any irregularities which may occur. In this article I will discuss the types of defects that have been troublesome over the years, focussing on the ways in …

Article Eight: A Premise And Three Problems, Ernest L. Folk Iii

Michigan Law Review

This essay concerns itself with a basic premise and three problems concerning investment securities under Article Eight of the Uniform Commercial Code (Code). Although some amount of relevant exposition is necessary to make the arguments intelligible, general familiarity with the essentials of the Code's treatment of investment securities is assumed.

Liability Under Defectively Organized Corporations - Cranson V. International Business Machines Corp.

Maryland Law Review

No abstract provided.

Passenger Carrier's Liability Extended Beyond Its Own Line By Ticket Sale Transaction--Ephraim V. Safeway Trails, Inc., Michigan Law Review

Michigan Law Review

Plaintiff, a Negro woman, purchased a roundtrip bus ticket in New York City for travel between there and Montgomery, Alabama. The ticket was sold by defendant, an interstate common carrier licensed to do business in New York, and consisted of a strip of coupon tickets, each good for a separate portion of the journey over the lines of defendant and other independent carriers. Printed on the back of each coupon was a clause limiting defendant's liability to its own line.1 Defendant received a ten per cent commission on those connecting tickets it sold for the other lines, and on the …

Contracts -- 1963 Tennessee Survey, Paul J. Hartman

Vanderbilt Law Review

Both the one year provision and the sale of goods provision of the Statute of Frauds were construed in Anderson-Gregory Co. v. Lea.'Regarding the duration of the contract, the facts in the opinion are somewhat sparse... The court held that the contract did not come within this provision of the statute. If a contract could have been performed, under its terms, within a year from the time of its making, it is not within the Statute of Frauds, even though it is improbable that the contract would be performed within a year.

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The Tennessee Supreme Court case of Oman …

Bills And Notes-Payees By Impersonation And By Assumption Of A Name-Drawer's Intent And Commercial Policy, Stuart S. Gunckel S. Ed.

Michigan Law Review

Consider the following scheme for fraudulently obtaining money: A, a stranger to D, personally appears before D, represents himself as B and requests a loan. There is an existing person named B. For D's security a mortgage is produced in the name of B, but it has actually been penned by A. A check of the land records by D verifies that the land described in the mortgage is in fact owned by B. D, having satisfied himself as to the existence of B, draws a check payable to the …

Torts - Liability Of Supplier Of Chattel - Proof Of Manufacturer's Negligence, Whitmore Gray

Michigan Law Review

Plaintiff service station operator brought an action to recover for injuries resulting from the explosion of one of defendant manufacturer's tires. The tire, while admittedly new, had been purchased by a third party some eighteen months before being brought to the plaintiff for mounting. In addition to his own testimony, the only evidence supporting plaintiff's claim of negligence was expert testimony that such an explosion could be caused by defective wire in the bead when a tire was inflated to normal pressure, and also that there was opportunity for negligence in defendant's manufacturing processes. The district court set aside the …

Impact Of The Commercial Code On Liability Of Parties To Negotiable Instruments In Michigan, Roy L. Steinheimer Jr.

Michigan Law Review

Since the Uniform Commercial Code is now effective in Pennsylvania and is under active consideration by official bodies in other states, it seems appropriate to investigate in some detail the impacts which this proposed legislation would have upon the accumulated business, legislative and judicial understanding and experience in the commercial law area in a specific jurisdiction. As an illustration of the problems which will be faced by judges, lawyers and businessmen in any jurisdiction which adopts the code, the writer has chosen to analyze some impacts which the code would have on commercial law in Michigan. Space limitations make it …

Impact Of The Commercial Code On Liability Of Parties To Negotiable Instruments In Michigan ,, Roy L. Steinheimer, Jr.

Legal Scholarship by Dean Steinheimer

No abstract provided.

Liability Of A Business Proprietor For Attraction Of Crowds

Indiana Law Journal

Recent Cases: Torts

Sales-Liability Of A Manufacturer For Misrepresentations To Sub-Purchaser

Indiana Law Journal

No abstract provided.

Carriers Distinction Between Common Carriers And Contract Carriers, Marcus L. Plant

Michigan Law Review

In the recent case of Ace-High Dresses, Inc. v. J.C. Trucking Co., the defendant was a corporation organized for the purpose of doing a general trucking business. At the time of the suit it was operating under separate contracts with five dressmaking establishments, one of which was the plaintiff. Under these contracts the defendant trucked dress goods every day except Sunday. The goods were taken on in New York, carried to New Haven, Hartford or Bridgeport, left there until processed, and then taken back to New York. The defendant's drivers had keys to the factories of the processors, entered …

Retail Responsibility And Judicial Law Making, John Barker Waite

Michigan Law Review

When the corner grocer sells a can of beans and a peck of fresh spinach, does he make himself responsible for the contents of the can, or acquire liability because of a green worm buried deep in the leaves?

Sales - Implied Warranty Of Fitness - Restaurateur

Michigan Law Review

Defendant, proprietor of a hotel and dining room, served unwholesome food to the plaintiff who became ill as a result of its impurity. The plaintiff sued for the damages resulting from his illness, on the theory that there was an implied warranty that the food was fit for human consumption. Held, the serving of food for immediate consumption on the premises was not a "sale" within the Uniform Sales Act, and therefore there was no warranty attached under the terms of the Act, and there was no implied warranty of fitness of food so served at common law. Lynch …

Recent Important Decisions

Michigan Law Review

A collection of recent important court decisions.

Trade Competition - Effect Of Motive, Herbert F. Goodrich

Articles

Does the motive with which one enters into what is ostensibly trade competition with a business rival have any significance in the law? Motive is used, following Judge Smith's careful limitation of the term, to signify the feeling which makes the actor desire to obtain the result aimed at. A conclusion that motive is immaterial in this connection can be sustained by formal logic. A man has a "right" to engage in business, even though his rival be injured thereby. One may exercise a legal right, regardless of his motives in doing so. Therefore, business competition, if the methods be …

Recent Important Decisions, Michigan Law Review

Michigan Law Review

No abstract provided.

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. …

Sales: Liability For The Presence Of Mice And Other Uncommon Things In Food, John B. Waite

Articles

A group of recent decisions presents a somewhat farcical conformity with Montesquieu's thesis that "law" may vary with time and geography. It strikingly illustrates, also, the importance of the particular theory of liability upon which a suit is predicated. The unusual similarity in detail of the operative facts of these cases lends peculiar emphasis to the difference in the judgments rendered.

Limitation As To The Amount Of Liability For Loss Of Goods By Carriers, Edwin C. Goddard

Articles

A carload of automobiles was shipped by express, under an express receipt limiting recovery to $50, unless a greater value was named and a greater carrying charge paid. The shipper knew of this stipulation, and deliberately chose the restricted liability so as to secure the lower rate. On a suit for loss of the automobiles, recovery was limited to $50. Geo. N. Pierce Co. v. Wells Fargo & Co., 189 Fed. 561, commented on in 10 MICH. L. REB. 317. The United States Supreme Court has just affirmed this decision, 35 Sup. Ct. 351.

The Liability Of The Common Carrier As Determined By The Recent Decisions Of The United States Supreme Court, Edwin C. Goddard

Articles

An understanding of the present day liability of the common carrier under conditions as they exist, especially in interstate shipments, is best reached by an historical journey from the early decisions of the Supreme Court of the United States to the end of the year just past.

The Effect Of The Carmack Amendment To The Hepburn Act Upon Limitation By Common Carriers Of The Amount Of Their Liability, Edwin C. Goddard

Articles

Two cases, decided by the Supreme Court of the United States on March 1O, 1913, may be considered together. They are developments of the cases reviewed in 11 MICH. L. Rev. 460. Plaintiff shipped two boxes and a barrel of "household goods" under an agreement that the goods, in case of loss, should be valued at $5 per hundred-weight. One box, weighing not over 200 pounds and actually worth $75, was lost. The Supreme Court of Arkansas affirmed a judgment against the carrier for the full value. 91 Ark. 97, 121 S. W. 932, 134 A. S. R. 56. On …

Outlines Of The Law Of Bailments And Carriers, Edwin C. Goddard

Books

The Outlines of Bailments and Carriers form part of a complete work on that subject intended for the use of classes in law schools. The other part, which is nearly ready for publication, consists of select cases illustrating and amplifying principles stated in the Outlines. It is the purpose of the Outlines not only to state the foundation principles of the subject, but to put these in orderly and consecutive form in order that the student may have an opportunity to see the subject as a whole. It is believed that any study of the cases without some such connected …