Securities Law Commons^™

Marshalling And The Personal Property Security Acts: Doing Unto Others…, Bruce Macdougall

All Faculty Publications

Where a senior creditor has access to two funds from the same debtor to satisfy its claims and the junior creditor has access to only one of these funds, it could be equitable to expect that the senior creditor satisfy itself out of the fund in which the junior creditor does not have an interest. Where a court makes an order based on this principle, it has invoked the doctrine of marshalling, sometimes called the two-fund rule.' Marshalling is an equitable doctrine and therein lies its strengths and weaknesses. Equity gives it its flexibility, adaptibility and utility. Equity also gives …

"Killing The Husband": Disallowing Contingent Claims For Contribution Or Indemnity In Bankruptcy, Donald R. Korobkin

Cardozo Law Review

No abstract provided.

The Purchase Money Security Interest In Inventory Versus The After-Acquired Property Interest-A "No Win" Situation, Nathaniel Hansford

University of Richmond Law Review

Extending credit entails risk. Seldom is a creditor absolutely assured of complete payment of his debt. Not only is there a risk in almost every loan, but the types of risks that must be weighed are manifold. The debtor may be a poor business person and never make a profit sufficient to repay the debt. The debtor class is replete with scoundrels and outright crooks who borrow money without any intention to service the debt. The economy may slump to such a degree that even astute business persons are pressed to pay their outstanding obligations. The creditor's collateral may deteriorate …

Book Review Of Passion: An Essay On Personality , Richard F. Devlin Frsc

Articles, Book Chapters, & Popular Press

Passion is a cogently structured, compel Jingly argued and seductively enthralling masterpiece which, in years to come, will undoubtedly stand out as an inspirational source for many who seek social transformation. Unger's style, in this essay at least, is lucid and inviting. Substantively, Passion demonstrates not only the depth of his penetrating intellect but also his command of an array of' disciplines. Unger's polymathy is all the more impressive when we remember that ours is an era in which idiosyncratic specialization is the norm.

Fiduciary Duties Related To Pension Fund Investment In Real Estate, Peter M. Kelly

Loyola University Chicago Law Journal

No abstract provided.

Real Estate And Unconventional Securities Under The Arkansas Securities Act, Harvey L. Bell

University of Arkansas at Little Rock Law Review

No abstract provided.

Increasing Application Of Federal Securities Laws To Real Estate Transactions, Robert J. Robbins Jr.

North Carolina Central Law Review

No abstract provided.

Corporate Securities As "Business Property", Thomas G. Bost

Vanderbilt Law Review

Inadequacies of the statutory definition of "capital asset" have led the courts to develop the concept of "business property," which serves to distinguish everyday business activities from investment activities.This concept is now being applied by courts in a wide variety of factual situations involving corporate securities. However, unless objective, easily ascertainable limits to the "business property" concept are found, confusion and inconsistency may mark the development of future case law. The rules developed by the American Law Institute's Discussion Draft Study of Definitional Problems in Capital Gains Taxation appear to provide these objective limits. Because they are consistent with the …

Book Reviews, Joseph Trachtman, Philip A. Trautman, Arthur Larson, A. Kenneth Pye, Walter F. Murphy, Norman Redlich, Leroy Kahn, Edwin W. Patterson, Frederick M. Hart, Curtis J. Berger, Wallace R. Bennett, W. W. Patterson

Journal of Legal Education

No abstract provided.

Liens And Equity Rules In A Creditor's Application For A Receiver In Texas, Lee A. Chagra, Charles W. Wolfram

Cornell Law Faculty Publications

No abstract provided.

Securities - Effect Of Certificate Of Title Acts Of Sales On Encumberd Vehicles To Purchasers In Ordinary Course, Charles G. Williamson, Jr. S.Ed.

Michigan Law Review

The primary purpose of this comment will be to examine the various legislative schemes in use and the bearing of the certificate of title acts on the case of mortgagee v. purchaser in ordinary course.

Securities - Sufficiency Of The Property Description And Its Relations To The Notice Provided By A Recorded Chattel Mortgage, Judson M. Werbelow S.Ed.

Michigan Law Review

The primary aims of this comment are to point out what the law requires in the nature of description, to analyze the value of these requirements in the light of the recording acts, to examine possible alternative security devices, and to suggest some useful steps that may be taken to augment the present system.

Securities - Application Of Antideficiency Judgment Statute To Second Purchase Money Trust Deed Where Security Is Exhausted By Foreclosure Of First Deed, John Houck S.Ed.

Michigan Law Review

To secure the purchase price of land, defendant executed a promissory note and first deed of trust in favor of a savings and loan association, and a second note and deed in favor of plaintiff-vendor. On default of both obligations, the savings and loan association foreclosed upon the land. The resulting sale completely exhausted the security, and plaintiff brought the present action upon his note. Defendant interposed section 580b of the California Code of Civil Procedure, which specifies that "no deficiency judgment shall lie in any event after any sale of real property for failure of the purchaser to complete …

Book Reviews, Hugh L. Sowards, Stanley D. Rose (Reviewer), William D. Warren (Reviewer)

Vanderbilt Law Review

Securities Legislation

By Louis Loss

Boston: Little, Brown & Com-pany, 1951. Pp. xxvii, 1283. $17.50

reviewer: Hugh L. Sowards

================================

Private Property, the History of an Idea

By Richard Schlatter

New Brunswick: Rutgers University Press, 1951. Pp. 284. $2.50

reviewer: Stanley D. Rose

==================================

Oil and Gas Law: Collection of articles

TEXAS LAW REVIEW

Austin: Texas Law Review, Inc., 1951. Pp. xix, 1736. $15.00

reviewer: William D. Warren

Corporations - Parent's Liability For Subsidiary's Obligations, Michigan Law Review

Michigan Law Review

A parent corporation owned all the stock of a subsidiary which it had organized to hold real estate, its own business being mercantile. The directors and officers of both corporations were identical. The subsidiary sublet premises for ninety-nine years, in turn leasing them to the parent for ten years. Improvements were made in accordance with the subsidiary's contract, and "leasehold trust certificates" were issued by an assignee of the underlying lease. The parent quit the premises before the expiration of its lease, but paid the rent for the whole period. The subsidiary then defaulted on the ninety-nine year lease, having …

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.

Recent Important Decisions

Michigan Law Review

Bankruptcy - Judgment for Breach of Promis, Aggravated by Seduction, Not Dischargeable - Petitioner 'had secured a judgment against the bankrupt for the breach of a promise to marry, seduction under such promise having been pleaded in aggravation of damages; the common law rule prevails in New York and a woman may not maintain an action for her own seduction. The District Court (196 Fed. 571), viewing this as a judgment grounded solely in contract, and not in tort as "for -will-ful and malicious injury to the person or property of another," or for "seduction of an unmarried female," held …

Recent Important Decisions, Michigan Law Review

Michigan Law Review

Animals--Abuse--Malice Toward the Owner; Assault and Battery--Apparent Ability; Bankruptcy--marshaling Assets of Partnership and of Constituent Firm; Banks and Banking--Checks--Fictitious Payee; Bills and Notes--Bona Fide Holder; Carrier--duty to Protect Passengers; Constitutional law--Division of Powers--Infringement on Executive; Constitutional law--Eminent Domain--Supersedure of Ordinance of 1787; Constitutional law--Special Legislation--Automobiles; Corporations--Issue of Stock--Corporation of Two States; Courts--Jurisdiction--Damage to Real Property Without the State--Negligence; Damage--Personal Injuries Contributing to Disease; Deeds--Assignment o fright of Entry Between Heirs; Deeds--Restrictive Covenant--"building" Defined; Equity--Infringement of Trade Marks--"Clean Hands"--Husband and Wife--Estate by Entirety--Conveyance of Husband's Interest; Judgment--Effect of the Transcript of a Justice's Judgement Filed in the District Court; Judgment--Estoppel--Homestead; Marriage--What …

Recent Important Decisions, Michigan Law Review

Michigan Law Review

Adverse Possession--Hostile Character--Possession Under Executory Contract for Sale; Bills and Notes--Bona Fide Purchase--Effect of Taking After Maturity; Bills and Notes--Bona Fide Purchase--Payment of Forged Check--Recovery of Payment; Bills and Notes--Invalidity of Note--Recovery Upon Original Consideration; Constitutional law--Due Process of Law--Situs of Ship for Purposes of Taxation; contracts--Sufficiency of Typewritten Signature; Copyright--Moving Pictures as Dramatization of Book; Corporations--Stockholder's Meetings--Effect of Withdrawal of Stockholders; Courts--The New Commerce Court--Jurisdiction--First Decision; Covenants Running with the Land--Building Restrictions; Damages--Excessiveness--Personal Injuries--Remittitur; Dead Bodies--Burial Determination of Place; Easements--Merger--Use by Owner of Servient Estate--Adverse Possession; Homicide--Burden of Proof When Insanity is a Defense; Intoxicating Liquors--Illegal Sale--"Dispensing"; Judgment--Collateral Attack--Defective …

Recent Important Decisions, Michigan Law Review

Michigan Law Review

Attachment--Power of Notary Public to Take Affidavit Where He is an Attorney for One of the Parties; Bankruptcy--Effect of Discharge--Res Adjudicate; Bills and Notes--Presentment and Demand by Telephone; Constitutional Law--Commerce--State Regulation of Interstate Telegrams; Constitutional Law--community Property--Alienation Without Consent of Wife; Corporations--Criminal Responsibility--Imputation of Intent and Knowledge; Corporations--Dividends--Compulsory Declaration; Corporations--Stockholder's Right to Examine Books--Motive; Easements--Grants for Pipe Lines--Rights Acquired--Telephone Line; Evidence--Character of Disbarment Proceedings--Use of Deposition; Evidence--Uncorroborated Testimony of an Accomplice; Fraudulent Conveyances--Voluntary Conveyances--Solvency and Insolvency of Grantor; Homestead--When Liable for Debts; Husband and Wife--Exception to Presumption of Coercion--House of Ill Fame; Injunction--Action on Note by Attorney Against Client--Remedy at …

Recent Important Decisions, Michigan Law Review

Michigan Law Review

Adverse Possession--Paper Title--Constructive Possession--Occupancy; Bankruptcy--Property Vesting in Trustee--Insurance Policies with Cash Surrender Value Absorbed by a Lien; Bankruptcy--Provable Debts--Contingent Claims--Landlord and Tenant; Bills and Notes--Incomplete and Undelivered Check, completed and Negotiated by Thief--Delivery Not Presumed; Bills and Notes--Note Distinguished from Testamentary Disposition; Contracts--Consideration--Forbearance to Sue; Contracts--Illegal Contract--Agent's Liability for Proceeds; Corporations--corporate Stock--Priority of Rights Between Unrecorded Transferee and Attachment Creditor; Criminal Procedure--Sealed Verdict--Separation of Jury; Eminent Domain--Streets--Power to Condemn Land Required for Railroad Purposes; Evidence--Presumptions and Burden of Proof in Case of Corporation Charged with Crime; Garnishments--On What Actions Available--Liquidated Claims; Insurance--change of Rates in Mutual Benefit Association; Judgments--Foreign Judgment--Merger--Bar; …

Recent Important Decisions, Michigan Law Review

Michigan Law Review

Bankruptcy--Corporation "Engaged Principally in Manufacturing"; Bankruptcy--Invalidity of Liens for Want of Record; Bills and Notes--Effect of Agreement to Pay Attorney's Fees on Negotiability; Boundaries--Street--Riparian Rights; Carriers--Negligent Delay of Passenger--Liability; Constitutional Law--Due Process of Law--Banking--Guaranty Fund; Constitutional Law--Vested rights--rights in Navigable and Non-Navigable Waters; Contracts--Performance of Building Contract; Corporations--Capital Stock--Trust Fund--Right of Bank to Purchase its own Stock; Corporations--Ownership of Stock--Unlawful Pledge--Rights of Pledgee; Damage--Breach of Covenant Against Incumbrances--Though Incumbrance Removed Nominal Damages Recoverable; Divorce--Grounds--Extreme Cruelty--Malicious Charges; Dower--Right to Dower--Divorce--Interlocutory Decree; Evidence--difference Between Burden of Proof and burden of Evidence; Evidence--Proof of Death--Privileged Communications Between Husband and Wife; Homestead--Fraudulent Conveyance--Right of …

Note And Comment, Charles A. Kent, Horace Lafayette Wilgus, Willard J. Banyon, John T. Creighton

Michigan Law Review

A Criticism of President Hadley's Views on "The constitutional Position of Property in America"; Inconsistent Defenses; Vacation of Corporation Directors; Right of the United States to Recover Money Paid on Pension Checks Bearing Forged Indorsements; Damages Recoverable on Stock Broker's Failure to Purchase as Directed;

Recent Important Decisions, Michigan Law Review

Michigan Law Review

Adjoining Landowners--Excavations--"Contiguous" Structures; Aliens--Naturalization--Persons of Japanese Race--"White Persons"; Bankruptcy--Suit by Trustee--Recovery of Property Transferred by Bankrupt; Carriers--Duty to Person Riding on Engine; Carriers--Through Contract--Liability of Connecting Carriers; Color of Title as Extending Possession of Adverse Claimant--Deed to Claimant's Vendor; Constitutional Law--Due Process of Law--White and Negro Pupils; Constitutional Law--Interstate Commerce--Power of Congress to Regulate; Constitutional Law--Secret Societies--Unauthorized Wearing of Badges; Conversion--Time of Conversion--Pledges--Assertion of Title; Corporations--Stockholder's Liability--Enforcement in Other States; Damages--For Interference with Employment--Mental Suffering an Element; Dedication--Acceptance--Ordinance Fixing Grade; Deed--Acknowledgement Taken by Officer and Stockholder of Corporation Grantor; Deeds--Building Restriction--"Front Property Line" of Corner Lot; Deeds--Restrictive Covenant--Electric Light Station …

Recent Important Decisions, Michigan Law Review

Michigan Law Review

Bankruptcy--Jurisdiction--Appointment of Referee; Carriers--Liability for Baggage--Proximate Cause; Constitutional Law--Impairing Obligation of Contract; Constitutional Law--Police Power--Regulation of Liquor Traffic; Contract of Sale--Written Contract--Alteration by Parol; Corporations--Existence Apart from Stockholders--Corporation Composed of Negroes Not a "Colored" Person; Corporations--Transfer of Shares--Bona Fide Purchasers--Estoppel; Damages--Measure for Wrongful Levy and Detention; Deeds--Distinguished from Wills--Power of Disposition Reserved; Deeds--Reservation of Right of Action for Damages--Liability of Subsequent Vendee; Descent and Distribution--Murderer's Right to Take His Statutory Share of His Victim's Estate; Divorce--Abandonment--Insanity of Deserting Spouse; Easements--Construction--Automobiles as Carriages; Elections--Irregularities in Ballots; Evidence--Admissions of a Trustee Against the Cestui Que Trust; Evidence--Judicial Notice of Foreign Law; Homestead--Mortgage …

Recent Important Decisions, Michigan Law Review

Michigan Law Review

Acknowledgement--Persons Entitled to Take--Officer and Stock-Holder of Corporation; Agency--Brokers--contract of Employment--Middleman--When Commissions are Earned; Bankruptcy--Discharge--Vacation; Bankruptcy--Jurisdiction--Summary Proceeding; Bills and Notes--Liability of Infant on note Given for Necessaries--Misrepresentation of Age; Carriers--Passenger's Signature to Excursion Ticket; Constitutional Law--Eleventh Amendment--Jurisdiction of Federal Circuit Court--Penalty for Disobeying Rate Legislation; Constitutional Law--State Taxation--Property in Transit; Corporations--Franchise and License Distinguished; Damages--Liquidated Damages--Discounts; Death by Wrongful Act--Statute--Construction--Death Outside the State--Right to Sue; Deeds--Adverse Possession--Color of Title; Evidence--Admissions in Pleadings; Evidence--Best Evidence; Evidence--Works on History as Evidence; Extortion--Indictment--Sufficiency; Imprisonment for Debt--Solitary Confinement; Injunction--Scope of Order Restraining Strike; Insane Persons--Conveyances--Avoidance--Ejectment; Insurance--Rescission of Contract--Action for--Interest of Beneficiaries; Interstate Commerce--Regulation of, …

Recent Important Decisions, Michigan Law Reviw

Michigan Law Review

Adverse Possession--Property Subject to Highways; Agency--Brokers--Commissions--When Earned; Bankruptcy--Acts of Bankruptcy--Payment with Intent to Prefer a Creditor; Bankruptcy--Jurisdiction of Court--Suits Between Trustee and Claimants of Property--Suites Against Trustee; Bills and Notes--Nonnegotiable Notes--Liability of Indorser; Bonds--Joint Stock Association--Negotiability; Carriers--Free Transportation as a Penalty; Carriers--Waiver of Stipulations as to Suits; Constitutional Law--Due Process of Law--Indeterminate Sentence Law; Constitutional Law--corporations--Foreign Corporations--Exclusion For Removal of Cause to Federal Courts; Constitutional law--Powers of Constitutional Convention; Criminal Law--Capital Offense--Bail--When Granted; Criminal Law--Murder--Elements of Murder; Damages--Action by Husband for Loss of Wife's Services; Damages--Failure to Deliver Telegram--Mental Suffering--Near Relative; Deeds--Joiner of Infant Husband; Divorce--Temporary Alimony and Counsel Fees--Appeal--Decisions …

Recent Important Decisions, Michigan Law Review

Michigan Law Review

Adoption--Defect in Proceedings--Effect; Bankruptcy--Equitable Rights under Unrecorded Mortgage--Agreement to Insure--Equitable Lien on Insurance Money; Bankruptcy--Insolvent Firm--Individual Estate of Unadjudicated Solvent Partner Not Subject to Administration; Bills and Notes--Liability of Indorser of Non-Negotiable Note; Bills and Notes--Liability of Irregular Indorser; Carriers--Wrongful Treatment of Passengers--Damages for Mental Suffering; Constitutional Law--Imprisonment for Debt--Peonage; Constitutional Law--Interstate Commerce--Shipments Within a State; Corporations--Foreign Corporations--Effect of Withdrawal From State--Validity of Service; Courts--Jurisdiction--Action Under the Laws of Another State; Covenants--Running with the Land; Damages--Destruction of Growing Grass; Evidence--Admissibility of a Deed as an Ancient Document; Evident--Admissions in Pleading; Garnishment--Nonresident Defendant--Jurisdiction; Jury--Right to Trial by Twelve Jurors--Waiver of Jury; …

Recent Important Decisions, Michigan Law Review

Michigan Law Review

Bankruptcy--Assignment--Validity--Possession of Res.; Carriers--Assaults by Employees on Passengers; Constitutional Law--Judicial Powers--Legislative Action of City Council Not Enjoined; Constitutional Law--Privileges and Immunities; Constitutional Law--Taxation of Imports; Contracts--Accord and Satisfaction--Consideration; Corporations--Liability of Bondholders on "Bonus Stock"; Covenants--Creation by Acceptance of Deed Poll; Criminal Law--Habeas Corpus--Want of Jurisdiction; Damages--For Wrongful Cutting of Timber--Value of the Manufactured Lumber; Evidence--Admissions of a Tenant in Common; Evidence--Effect of Plaintiff's Refusal to Submit to Physical Examination; Equity--Laches; foreign Corporations--What Constitutes "doing Business" in the State--Restrictions on State in Case of Interstate Commerce; Injunction--Suspension of Operative Force Pending Appeal; Judgment--conclusiveness--Matters Concluded; Judgment--foreign Judgment--Enforcement; Landlord and Tenant--Trade Fixtures--Right of …