Commercial Law Commons^™

Commercial Law—Uniform Commercial Code—Bank May Cancel Letter Of Credit Without Verifying Accuracy Of Customer’S Affidavit, Charles E. Milch

Buffalo Law Review

Fair Pavilions, Inc. v. First Nat'l City Bank, 24 A.D.2d 109, 264 N.Y.S.2d 255 (1st Dep't 1965).

Legislation, Law Review Staff

Vanderbilt Law Review

An examination of the current status of state net income taxation on interstate business logically begins with the decision in Northwestern Portland Cement Co. v. Minnesota and its companion case Williams v. Stockham Valves & Fitting, Inc.' There the United States Supreme Court held that an apportioned, nondiscriminatory excise tax imposed by a state on the net income of a foreign corporation does not violate either the due process clause or the commerce clause of the federal constitution, even though the income is derived solely from interstate commerce. Mr. Justice Frankfurter, dissenting, warned that increased burdens of bookkeeping necessary to …

Forms For Commercial Transactions Under Theuniform Commercial Code. David W. Carroll And Frederickw. Whiteside, Jr., Editors., Wilfrid J. Ritz

Washington and Lee Law Review

No abstract provided.

Franchise Restrictions: "Tied" Sales And Territorial Limitations, Alan S. Ward

Washington and Lee Law Review

No abstract provided.

A New Look At The European Patent: Limited Availability, Harold G. Maier

Vanderbilt Law Review

The promulgation of the Proposed Draft Convention relating to a European Patent Law in December 1962,' by the member states of the European Economic Community, and the continuing controversy surrounding it since that time have raised important questions for European and American businessmen. One of the most controversial is the extent to which the new patent should be made "available" to nationals of states not parties to the proposed Convention. This article examines the question of "availability" from the standpoint of the interests of the EEC and its member states. Its objective is to demonstrate that although the legal arguments …

Commercial Farm Law: The Uniform Commercial Code, Thomas B. Allington, Clayton K. Yeutter

Department of Agricultural Economics: Faculty Publications

Commercial law includes such topics as sales contracts, notes, checks, shipping and storage documents, and a variety of financing instruments. Over the years much of the law on these topics has become complex, confusing, and often obsolete. The Uniform Commercial Code, or U.C.C., is designed, first, to bring about uniformity in state laws governing commerce, and second, to clarify, simplify, and modernize these laws. The Code's success in this respect is shown by the fact that it has now been adopted by almost all states. It became effective in Nebraska on September 2, 1965. Drafting of the U.C.C. dates back …

Old Kontract Principles And Karl's New Kode: An Essay On The Jurisprudence Of Our New Commercial Law, Eugene F. Mooney

Villanova Law Review (1956 - )

No abstract provided.

The Law Applicable To International Letters Of Credit, Roger J. Gewolb

Villanova Law Review (1956 - )

No abstract provided.

The Uniform Commercial Code's Statute Of Frauds For Sales Of Goods, Joseph A. Tate

Villanova Law Review (1956 - )

No abstract provided.

Discovery In Aid Of Execution And Supplementary Proceedings: Two Weapons In The Creditor's Arsenal, J. Edmund Mullin

Villanova Law Review (1956 - )

No abstract provided.

Ucc—Liberal Interpretation Of Financing Statement Requirements, Anon

Washington Law Review

Filing requirements under the Connecticut enactment of the Uniform Commercial Code have been construed by two recent decisions of the United States Court of Appeals for the Second Circuit. In one case, a creditor duly filed a "security agreement" which the debtor, "Excel Stores, Inc.," had inadvertently signed "Excel Department Stores." Upon debtor's adjudication as a bankrupt, creditor filed a reclamation petition. The district court denied the petition, holding that the security agreement was not properly signed in accordance with Uniform Commercial Code section 9-402(1). On appeal, the Second Circuit reversed and held: Use of "Excel Department Stores" instead of …

Remedies For Oppression In Close Corporations In Indiana

Indiana Law Journal

No abstract provided.

The Tva Cases: A Quarter Century Later, George D. Haimbaugh Jr.

Indiana Law Journal

No abstract provided.

Payments To A Corporation Officer's Widow In Indiana

Indiana Law Journal

No abstract provided.

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

Maryland Law Review

No abstract provided.

Commercial Law--A Farmer Is Not A "Merchant" Under The Uniform Commercial Code--Cook Grains, Inc. V. Fallis, Michigan Law Review

Michigan Law Review

Plaintiff grain company allegedly entered into an oral contract to purchase 5,000 bushels of soybeans from the defendant farmer. The grain company signed a written integration of the alleged oral agreement and mailed it to the farmer, with a request for his signature. The farmer neither signed the document nor attempted to communicate with the grain company and later refused to deliver the soybeans pursuant to the terms of the plaintiff's memorandum. In an action for breach of contract, the grain company contended that the farmer was precluded from relying on the statute of frauds, as incorporated in the Uniform …

Some Ruminations About Remedies In Consumer-Credit Transactions , Carl Felsenfeld

Faculty Scholarship

The draftsmen of the Uniform Consumer Credit Code (herein- after the Credit Code) have thus far directed most of their time and effort to establishing a permissive pattern within which creditors give and debtors receive credit. Spokesmen for both sides, as well as distinguished neutral parties, have carefully described the terms under which credit may be granted, the rates that may be charged, and many other elements of the credit transaction. These statutory requirements will significantly influence the size and scope of the debtor community and will undoubtedly set the future pattern for consumer-credit transactions. Thus, these permissive, or authorizing, …

Book Review, Paul D. Carrington

Faculty Scholarship

Reviewing John Honnold and E. Allan Farnsworth, Cases and Materials on Commercial Law (1965)

Municipal Industrial Development Bonds, Alfred E. Abbey

Vanderbilt Law Review

Several years ago a national business magazine carried an article styled "You Gotta Have A Golf Course."' The article outlined the efforts of a small town to attract new industry and the awkward realization by the city fathers that they were losing out to the competition because their community lacked such a recreational facility. After this finding, several public spirited citizens raised the necessary funds and constructed a nine-hole course. These efforts were soon rewarded when a large industrial concern located a new manufacturing plant in their city. Industrial development bonds are essentially intended to serve the same purpose as …

The Uniform Commercial Code—Sb 122, Richard Cosway, Warren L. Shattuck

Washington Law Review

Senate Bill 122, enacting the Uniform Commercial Code in Washington, was passed during the recent legislative session. The effective date of the new statute is June 30, 1967. Since 1952, when the Uniform Commercial Code [hereinafter cited as UCC] was first proposed by the National Conference of Commissioners on Uniform State Laws and the American Law Institute, it has been enacted by forty-one states, the District of Columbia, and the Virgin Islands. It is now much easier to list the-states which have not enacted it. These are: Alabama, Arizona, Delaware, Idaho, Louisiana, Mississippi, South Dakota, South Carolina, and Vermont. As …

Dual Distribution And Vertical Integration Under The Robinson-Patman Act, Thomas M. Lofton

Indiana Law Journal

No abstract provided.

Commercial Law—Uniform Commercial Code—Drawer-Bank Of Teller's Check Cannot Stop Payment When Not Party To Underlying Transaction, Marshall L. Cohen

Buffalo Law Review

Malphrus v. Home Savings Bank, 44 Misc. 2d 705, 254 N.Y.S.2d 980 (Albany County Ct. 1965).

Determining The Law Governing Performance In International Commercial Arbitration: A Comparative Study, Gabriel M. Wilner

Scholarly Works

Persons entering into commercial agreements of a transnational nature have often shown a preference for the arbitration tribunal rather than the court of law as the instrument for settling disputes which may arise between them.

The parties, who may be either individuals or legal persons, such as corporations, manifest their desire to employ arbitration by providing for its use in the arbitration clause of the contract. It is generally agreed that such a clause, whether or not it is considered as part of the main contract, is consensual in nature. But the significance of the agreement to arbitrate is determined …

Negotiable Instruments—A Comparison Of Washington Law And Uniform Commercial Code Article 3 [Part 3], Richard Cosway

Washington Law Review

The following article is the third in a series by Professor Richard Cosway on negotiable instruments in which he compares existing Washington law with Article 3 of the Uniform Commercial Code. Previous articles on Article 3 have appeared in 38 Wash. L. Rev. 501 (1963) and 38 Wash. L. Rev. 769 (1963).

Foreign Lienor Cannot Prevail In Ohio Against Subsequent Good Faith Purchaser Who Holds Ohio Certificate Of Title- Commercial Credit Corp. V. Pottmeyer, Michigan Law Review

Michigan Law Review

Williams purchased an automobile in West Virginia from plaintiff's assignor on a conditional sales contract. The security interest was duly recorded in West Virginia and noted on the certificate of title. Before paying any of the purchase price, Williams fraudulently procured another West Virginia certificate of title free of notice of liens. Relying on the fraudulent certificate, the defendant bought the car from Williams at an Ohio automobile auction and obtained an Ohio certificate of title. The plaintiff brought suit in Ohio to recover the vehicle and obtained a favorable judgment, which was affirmed by an Ohio court of appeals. …

Ftc May Determine Whether Advertisements Containing Therapeutic Claims In Promotion Of Health Books Are Deceptive- Rodale Press, Inc., Michigan Law Review

Michigan Law Review

Rodale Press advertised that the ideas and suggestions in its publication, The Health Finder, would increase life span, prevent various diseases, and permit savings on medical and dental expenses. The Federal Trade Commission challenged the advertising claims, which were substantially restatements of claims made in the book, on the ground that adherence to the book's suggestions would not effect the promised results. The hearing examiner denied Rodale's motion to dismiss the complaint. On request for permission to file an interlocutory appeal from the dismissal, held, request denied, one commissioner dissenting. The Commission may challenge the collateral claims in …

Unexpected Disqualification Of Reorganizations Under The Internal Revenue Code By The Inadvertent Transfer Of Boot, Alden H. Smith, Jr.

Vanderbilt Law Review

It is common today to read of corporations "merging" or of one corporation "buying out" another. Many of these transactions will be "reorganizations" under section 368(a) of the Internal Revenue Code. Section 368 is the current congressional resolution of two conflicting policies of tax law. On the one hand, it is desirable to promote the free mobility of capital in order that it be used in the most economical manner. On the other hand, there is the desire to prevent shareholders from using corporate reorganizations as a means of avoiding income taxes. The most common of shareholder schemes are those …

Rule 10b-5 And The Stockholder's Derivative Action, Lewis D. Lowenfels

Vanderbilt Law Review

This article focuses upon a new, emerging private cause of action based upon section 10(b) and rule 10b-5-a stockholder's derivative action initiated on behalf of a corporation which has been defrauded in connection with the purchase or sale of securities. Five reported cases, three decided in the last three months of 1964, have sustained a stockholder's derivative suit based upon section 10(b) and rule 10b-5. The significance of these decisions becomes apparent, not only when one considers that the derivative suit has traditionally been an internal corporate matter governed exclusively by state law, but also when one focuses upon the …

Multiple Corporations Under The Revenue Act Of 1964, James T. O'Hare

Vanderbilt Law Review

It is a maxim of taxation that where graduated tax rates are imposed on the income of a legal entity, tax avoidance in the form of income splitting will be attempted. This has proven true in the case of individuals' and trusts, and has more recently become true of corporations. For over a decade the law governing the tax status of affiliated corporations has been developing. The Revenue Act of 1964 introduces several important changes in the federal income tax treatment of multiple corporations. The purpose of this note is to examine the tax status of multiple corporations both before …

An Inquiry Into The Utility Of "Domicile" As A Concept In Conflicts Analysis, Russell J. Weintraub

Michigan Law Review

No attempt is made here to conduct an exhaustive case study of any one particular area in which the concept of "domicile" is used as a tool for analysis in the conflict of laws. A number of thorough and useful studies have been made in narrow areas and are cited at appropriate places in the body of this article. Instead, this article will review the use of "domicile" in analyzing certain typical conflicts problems, particularly its use as the contact or pointing word in choice of law rules concerning the testate and intestate distribution of movables, and, as is newly …