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Articles 631 - 660 of 697
Full-Text Articles in Securities Law
Corporate Stock And Inheritance Taxation
Corporate Stock And Inheritance Taxation
Michigan Law Review
News of the recent election includes the item that the state of Florida, in addition to climate, now offers constitutional exemption from state income and inheritance taxation as an attraction to elderly persons of wealth to make that state their home. In most of our states the effort is in the other direction, to include within the scope of the inheritance tax law everything that the state may reach without running afoul of constitutional inhibitions on legislative action. A discussion of all the varied and interesting situations which test the limit of the power of taxing inheritances would run far …
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 …
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.
Corporations, Shareholders' Right To Have A Dividend Declared And Paid Out Of Surplus, Horace Lafayette Wilgus
Corporations, Shareholders' Right To Have A Dividend Declared And Paid Out Of Surplus, Horace Lafayette Wilgus
Articles
In Dodge v. Ford Motor Co. (Mich. 1919), 170, N. W. 668, the questions were not new, and with one exception, the decision was not unusual, but the sums involved were enormos. The Motor Company was incorporated in 1903, under the general manufacturing incorporating act of Michigan (P. A. 232, 1903), for the manufacture and sale of automobiles, motors and devices incident to their construction and operation, with an authorized Capital Stock of $150,000-$100,000 then paid up, $49,000 in cash, $40,000 in letters patent issued and applied for, and $11,000 in machinery and contracts. In 1908 the stock was increased …
Stock Dividends As Income, Robert E. More
Stock Dividends As Income, Robert E. More
Michigan Law Review
In the case of Towne v. Eisner, the United States Supreme Court has recently held that under the Income Tax Law of 1913, the stock dividends received by a shareholder during the year 1914 could not be taxed upon their full par value, where the corporate surplus thus distributed all accrued prior to January I, 1913. The Treasury Department subsequently announced that the decision is not applicable to the Income Tax Law of 1916.1 It is the purpose of this article to review the case of Towvne v. Eisner,2 and then to discuss the soundness of the position taken by …
The Ohio "Blue Sky" Cases, Clarence D. Laylin
The Ohio "Blue Sky" Cases, Clarence D. Laylin
Michigan Law Review
The ancient notion that private fraud lies beyond the domain of public law did not long survive the statements of it that have been quoted.' Our legislation, expressing always the changing moral standards of the people, has directed the sanctions of the criminal law, step by step, ever against new forms of overreaching and imposition. Numerous illustrations might be cited to show the growing repugnance of the public mind toward frauds and cheats, and the tendency to recognize them as offenses invoking the restraint of public action as well as the redress of private injuries.
Note And Comment, John R. Rood, Henry M. Bates, Werner W. Schroeder, Robert E. Richardson, Hollace M. Reid
Note And Comment, John R. Rood, Henry M. Bates, Werner W. Schroeder, Robert E. Richardson, Hollace M. Reid
Michigan Law Review
Can a Manufacturer be Compelled to Sell? - The fight for price maintenance is not yet completely settled, despite, the decisions in Dr. Miles Medical Company v. Parks & Sois Company, and Baiter & Cie v. O'Donnell, which held invalid contracts, whether nominally of agency, or of sale, between manufacturer and wholesaler or jobber whereby the latter in purchasing agreed himself to maintain and to sell only to others who would maintain a schedule of prices established by the manufacturer. But there are more ways than one of maintaining prices. One of these is to refuse to sell to persons …
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.
Note And Comment, Henry M. Bates, Evans Holbrook, Will R. Roberts, Marcy K. Brown Jr, Allen M. Reed
Note And Comment, Henry M. Bates, Evans Holbrook, Will R. Roberts, Marcy K. Brown Jr, Allen M. Reed
Michigan Law Review
Legislative Power to Restrict Freedom of Labor Contracts -The struggle between the police power of the legislature and the nineteenth century idea of due process of law continues unremittingly. That increasing social necessities and a more comprehensive and perfect conception of justice have resulted in recent years in restricting the "due process" clauses in federal and state constitutions to their historically and logically more correct meaning and scope there can be no doubt. Scores, if not hundreds, of decisions by our courts and conspicuously those of the United States Supreme Court have shown complete recognition of the fact that the …
Note And Comment, Ralph W. Aigler, John R. Rood, Henry Rottschaefer, Allen M. Reed
Note And Comment, Ralph W. Aigler, John R. Rood, Henry Rottschaefer, Allen M. Reed
Michigan Law Review
Revocability of Licenses - The Rule of Wood v. Leadbitter - That a mere license purporting to create in the licensee a new right or privilege is revocable at law at the will of the licensor seems to have been definitely settled in England by Wood v. Leadbitter. It was there held that the plaintiff who had entered the close of the defendant's master after the purchase of a proper ticket could be -forcibly ousted, notice having been first given that he should leave. The only remedy open to the ousted ticket holder-in law at least-no excessive violence having been …
Recent Important Decisions
Michigan Law Review
A collection of recent important court decisions.
Note And Comment, Edson R. Sunderland, Roswell B. O'Hara, Arend V. Dubee, Hollis Harshman
Note And Comment, Edson R. Sunderland, Roswell B. O'Hara, Arend V. Dubee, Hollis Harshman
Michigan Law Review
The Proposed Michigan Judicature Act. The Michigan Legislature, at its last session, passed an act (No. 286, Public Acts of 1913) providing for the appointment of a Commission to revise and consolidate the laws of the State relating to procedure. The Governor appointed Alva M. Cummins, J. Clyde Watt, and Mark W. Stevens as members of this commission, and, the result of their labors has just appeared in the form of a proposed bill regulating the entire subject of procedure in all the courts of the State. The bill is a long one, embracing 565 printed pages, but it is …
Recent Important Decisions
Michigan Law Review
A collection of recent important court decisions.
New Interpretation Of The Sherman Act, Clarence E. Eldridge
New Interpretation Of The Sherman Act, Clarence E. Eldridge
Michigan Law Review
Generally speaking, there never has been any serious disagreement as to the purpose of the SHERMAN ACT. Everyone -friends and foes, judges and economists, lawyers and laymen- admits that it was enacted with a view to foster competition, or, as Justice HARLAN put it in the Northern Securities case,' "to prescribe the rule of free competition."
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.
Note And Comment, George E. Kennedy, Louis P. Lackey, John R. Rood, Gordon Stoner, Ralph W. Aigler
Note And Comment, George E. Kennedy, Louis P. Lackey, John R. Rood, Gordon Stoner, Ralph W. Aigler
Michigan Law Review
The Law School -As a result of the increased requirements for admission, which are now in their second year of operation, the attendance at the Law School is less than that of last year, though the decrease is less than was anticipated at the time of the adoption of the higher requirements. The entering class (the second, under the new standard) is about thirty larger than that of last year. There are no changes in the teaching staff, and none of great importance in the curriculum.
Recent Important Decisions
Michigan Law Review
Banks and Banking - Right to Set-off Deposit Against Debt Due Bank - L. Bank set off a matured debt due to it by a depositor against the amount due by the bank to the depositor, all of which was done after the death of the depositor and after appraisers appointed to set apart a year's support to his widow had made a return, setting apart the amount due by the bank to the decedent. Held, that the bank exercised its right of setoff too late, Luthersville Banking Co. v. Hopkins (Ga. 1913) 77 S. R: 589.
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
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
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
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
Recent Important Decisions, Michigan Law Review
Michigan Law Review
Accident Insurance--Accident or Disease; Antenuptial Contract; Waiver of Performance; Bankruptcy--Arrest of Bankrupt--Exemption from Arrest; Bankruptcy--Effect upon a Surety of Bankrupt's Discharge; Charities--Validity--Certainty as to Purpose of the Gift; Constitutional Law--Equal Protectin of the Laws--Abrogation of Fellow-Servant Rule; Constitutional Law--Equal Protection of the Laws--Permit to Woman Pharmacist to Sell Liquors; Constracts--Public Policy; Corporations--Injury to Minority Stockholders--Remedy by Injunction; Corporations--Nature of a Corporation--Franchises; Deeds--Specific Performance of a Condition Subsequent; Elections--Primary Elections--Failure of Nominee to File Expense Account; Evidence--Parol Testimony--Admissibility; Husband and Wife--Personal Torts Between; Husband and Wife--Subrogation of Wife to Rights of Creditors for Necessaries; Inn-Keepers--Liability for Goods of Guest--Termination of Liability; …
Recent Important Decisions, Michigan Law Review
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; …
Note And Comment, Henry M. Bates, Edson R. Sunderland, Harry W. Isenberg, James H. Brewster
Note And Comment, Henry M. Bates, Edson R. Sunderland, Harry W. Isenberg, James H. Brewster
Michigan Law Review
The Right of Privacy at Common Law; Limitation of a Carrier's Liability for Negligence; Validity of Corporate By-Law Vesting in Directors the Discretionary Power of Denying Stockholders the Right to Examine the Corporate Books; A Single Action of Successive Actions for a Nuisance; Status of One Holding Office Under an Unconstitutional Statute; Two Recent Decisions Preventing the Presbyterian Re-Union
Recent Important Decisions, Michigan Law Review
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 …