Commercial Law Commons^™

Consumer Credit--The Department Store Revolving Charge Account--Usury Resurrected--State V. J.C. Penney Company, Michigan Law Review

Michigan Law Review

The Attorney General of Wisconsin recently brought an action against the J.C. Penney retailing chain for an injunction against any further charges of 1½% per month on the declining balances of its revolving charge accounts. The state alleged that anything in excess of I% per month was a violation of the $12 per $100 per annum usury ceiling established by its legislature as the maximum chargeable for a loan or forbearance of money. Penney admitted that its monthly charge frequently exceeded the allowable rate but argued that its charge was a "time-price differential," exempt from statutory control under the time-price …

End Of An Era And New Horizons, Lewis F. Powell, Jr.

Powell Speeches

Speech given at United Bankshares Meeting, Williamsburg, Virginia at time of Kay Randall's replacing Harvie Wilkinson as UVB's CEO. Powell spoke of new regulatory regime that was beginning for banks.

Regulation Of Intermodal Rate Competition In Transportation, Joseph R. Rose

Michigan Law Review

The controversy over intermodal rate competition comprehends both legal and economic issues. Clarity requires that each be explicitly stated and separately treated. The legal issues center on the meaning of section 15a(3) of the Interstate Commerce Act and the declaration of the National Transportation Policy that precedes the Act, which are the sources of the Commission's authority. The economic issues involve the effect on resource allocation of rate-making proposals devised to carry out these provisions of the Act.

Some "Proceeds" And Priority Problems Under Revised Article 9, Ray D. Henson

William & Mary Law Review

No abstract provided.

The Legitimacy Of The Business Corporation, By James Willard Hurst, John D. Donnell

Indiana Law Journal

No abstract provided.

The Taxation Of Stock Dividends And The Tax Reform Act Of 1969--Foreboding Implications And Constitutional Uncertainties, John A. Pickens

Vanderbilt Law Review

Federal income taxation of stock dividends has followed a diverse course. Since the introduction of a federal income tax on all stock dividends in 1916, five major changes have occurred in this area. The most recent of these changes is embodied in section 421 of the Tax Reform Act of 1969, which amends section 305 of the Internal Revenue Code of 1954. When the 1969 Amendments are compared with the treatment of stock dividends under the Internal Revenue Code of 1954, they can be viewed, in conjunction with the regulations issued in 1969 under the 1954 Code, as initiating a …

New York Specious Cash Sales Act, Craig D. Holleman

University of Michigan Journal of Law Reform

The New York Legislature recently moved to protect consumers in that state from unscrupulous retailers of consumer goods and financers of consumer loans by enacting the Specious Cash Sales Act. The new law is the third in a series of measures designed to remedy certain perceived inequities to which the holder in due course doctrine gives rise in the consumer goods field. Earlier this year, the Legislature undercut complicated mechanisms whereby a finance company could procure from a retailer contracts and obligations containing a waiver-of-defenses provision executed by the buyer-consumer. This law in turn complemented a still earlier statute which …

Section 2-318 Of The Ucc: The Sleeping Giant, William Michael Karnes

Cleveland State Law Review

The acceptance, application, and development of Section 2-318 of the Uniform Commercial Codemhas caused more trouble and confusion than the appearance of Darwin's theory of evolution in Tennessee. Overlooking the obvious possible solution of amending Section 2-318, most states have retained a written but unexercised statute and thereby compelled courts to stretch, bend and squeeze breach of warranty into the realm of strict liability in tort.

Integration Under The Securities Act: Once An Exemption, Not Always ...., Ronald M. Shapiro, Alan R. Sachs

Maryland Law Review

No abstract provided.

Recent Cases, Journal Staff

Vanderbilt Journal of Transnational Law

Plaintiff, a West German foundation, sued to enjoin infringement of United States trademarks by defendant, an East German "peoples-owned enterprise." The original Carl Zeiss Stiftung was created at Jena in 1889 with the required approval of the Duchy of Saxe-Weimar-Eisenach for the purpose of owning and operating an optical business for profit. In 1945, before Jena became part of the Soviet Zone, United States military authorities evacuated all members of the Zeiss Board of Management, as well as key personnel, to Heidenheim, Wuerttemberg, in the United States zone. In 1948, the Soviet Union expropriated all Zeiss assets in Jena, including …

Uniform Commercial Code- Breach Of Warranty- Applicable Statute Of Limitations For Personal Injury

University of Richmond Law Review

Statutes of limitation are statutes of repose, the object of which is to compel the exercise of a right of action within a reasonable time. They are designed to suppress fraudulent and stale claims from being asserted after a great lapse of time, to the surprise of the parties, when the evidence may have been lost, the facts may have become obscure because of defective memory, or the witnesses have died or dis- appeared.

Uniform Commercial Code--Sales--Sections 2-508 And 2-608--Limitations On The Perfect-Tender Rule, Michigan Law Review

Michigan Law Review

Section 2-601 of the UCC gives a buyer of goods a right to reject for any nonconformity to the contract specifications. While this section essentially codifies the "perfect tender" rule of pre-Code sales law, it expressly limits that rule by referring to section 2-612, which pertains to installment contracts, and sections 2-718 and 2-719, which allow contractual limitations on remedies. Moreover, other provisions in the Code have the effect of restricting the perfect-tender concept. This Note will examine how the courts have applied two such sections-2-508 and 2-608-to protect the interests of buyers and sellers after tender.

Proposed Uniform Consumer Credit Code For Indiana: Restrictions On Negotiability And Waivers Of Defenses In Consumer Credit Transactions, Rory O'Bryan

Indiana Law Journal

No abstract provided.

Empirical Studies In Commercial Law, Philip Shuchman

Journal of Legal Education

No abstract provided.

Session Law 70-274, Florida Senate & House Of Representatives

Staff Analyses & Legislative Documents

No abstract provided.

Nationalism As A Factor In Legislation Restricting Foreign Investment: Extractive Industries In Mexico, Ira B. Zinman

Indiana Law Journal

No abstract provided.

The Indiana Business Tax Roadblock, Charles F. Bonser

Indiana Law Journal

No abstract provided.

Roundtable On Commercial Law, William D. Warren, Robert Braucher, Rodolfo Batiza, Norman Penney, Jacob Ziegel, Soia Mentschikoff, Egon Guttman, J. S. Sloan

Journal of Legal Education

No abstract provided.

Interstate Cooperation And An Interstate Judiciary, Lewis H. Larue

Washington and Lee Law Review

No abstract provided.

Price Fixing--Fair Trade Laws, James Michael Brown

West Virginia Law Review

No abstract provided.

Unconscionability Under The Uniform Commercial Code - Two Trends In Cases Decided On Unconscionability Grounds, David F. Rolewick

Loyola University Chicago Law Journal

No abstract provided.

In Pari Delicto And Unclean Hands As Defenses To Private Suit Under Sec Rule 10b-5 - Kuehnert V. Texstar Corp.

Maryland Law Review

No abstract provided.

Souped Up Affirmative Disclosure Orders Of The Federal Trade Commission, William F. Lemke Jr.

University of Michigan Journal of Law Reform

Under section 5(b) of the Federal Trade Commission Act the Commission is given authority to conduct hearings, make findings and issue cease and desist orders requiring any person, partnership or corporation to cease and desist from use of unfair methods of competition or unfair or deceptive practices in commerce. The Commission also issues consent orders in cases which are concluded by agreement between the Commission and the allegedly offending party. Consent orders have the same force and binding effect as those issued after hearings and findings. Although it is well established that the Commission has very broad discretion and authority …

Representing The Low Income Consumer In Repossessions, Resales And Deficiency Judgment Cases, James J. White

Articles

The goal of this article is to lend a helping hand to the debtor's lawyer in his job of defending deficiency judgment suits brought following the repossession and resale of a debtor's encumbered personal property. Although some of the following discussion is relevant to the defense of any creditor's suit, and some applies to representation of the debtor prior to repossession or resale, the focal point of the discussion is the low-income consumer who has lost his automobile, television or some other "hard good" and has become a defendant in a suit brought by his secured creditor for a deficiency …

Commercial Transactions (Teaching Materials) By Richard E. Speidel, Robert S. Summers, And James J. White, Harry R. Sachse

Indiana Law Journal

No abstract provided.

Icc Jurisdiction Of Great Lakes Rail-Water Competition, Arthur E. Miller

Cleveland State Law Review

The regulatory framework surrounding the transportation industry is complex and the absence of any easy resolution of contemporary problems fostered by competitive abuse can be appreciated only by viewing the development and application of administrative powers initiated by the Act to Regulate Commerce.Although the Interstate Commerce Commission has supervised the competitive arena , the age and condition of the Great Lakes fleet manifests water carrier inability to overcome railroad economic power. The viability and future existence of the Great Lakes water carrier could well be determined by a Commission decision in a in a current coal case which represents the …

Liability Of Carrier For Loss Or Damage To International Shipments, Thomas R. Skulina

Cleveland State Law Review

Though shipments by truck or rail are usually interstate or intrastate, many such shipments traverse the Mexican and Canadian borders or involve delivery from or to an ocean vessel for international transshipment. The federal laws which set out the liability of a carrier for interstate shipments are known as the Carmack Amendment and the Cummins Acts. This article will deal with the regulation of the so-called "International Shipment." A myriad of problems arises in the determination of what law is applicable to a shipment that either originated in or is destined for a foreign nation. Though the Federal statute itself …

Cars, Creditors, And The Code: The Diverse Interpretations Of Section 9-310, Arthur Murphey

Law Faculty Scholarship

No abstract provided.

Enforcement Of A Promise In Modern American Law (Gendai Amerikaho Ni Okeru Yakusoku No Kyosei), Whitmore Gray

Articles

A series of seminar lectures given by Whitmore Gray in Tokyo, Japan during October 1968. Six articles were subsequently published in “Kaigai Shojihomu” (The International Business Law Bulletin) between July 1969 and May 1970.

The sixth and final installment describes the history of contractual enforcement in the U.S. and highlights changes introduced through adoption of the UCC.

Merchandising Through Use Of Lotteries, Robert V. Bullock

Cleveland State Law Review

It has been almost universally held that there must be three elements present for a promotion to constitute a lottery. These elements are consideration, chance, and prize. The absence of any one of these elements is fatal to identifying the transaction as a lottery.Promoters are continually modifying and shading each of these three elements, however, so that the courts and government officials must constantly reappraise their positions to protect both the public and legitimate business.