Corporations

by Mitchell, Lawrence E.; Diamond, Michael R.

• ISBN13: 9780890897423
• ISBN10: 0890897425
• Format: Hardcover
• Copyright: 2004-10-01
• Publisher: Carolina Academic Pr

Table of Contents

Table of Primary Cases	xiii
Introduction	xvii
The Nature and Purpose of the Corporation	3	(74)
Introduction	3	(1)
The Nature of the Corporation	4	(12)
Trustees of Dartmouth College v. Woodward	5	(10)
Delaware General Corporation Law Section 394
Reserved power of State to amend or repeal chapter; chapter part of corporation's charter or certificate of incorporation	15	(1)
The Purpose of the Corporation	16	(16)
Dodge v. Ford Motor Co.	16	(7)
Dalia Tsuk, Corporations Without Labor: The Politics of Progressive Corporate Law	23	(2)
A. P. Smith Mfg. Co. v. Barlow	25	(5)
The American Law Institute Principles of Corporate Governance: Analysis and Recommendations	30	(2)
Who Counts Within the Corporation?	32	(13)
Steinway v. Steinway & Sons	32	(3)
Simons v. Cogan	35	(3)
Jedwab v. MGM Grand Hotels, Inc.	38	(3)
Connecticut General Statutes Annotated	41	(1)
New York Business Corporations Law	42	(1)
Shareholder Valuism: The New Business ``Ethic''	43	(2)
The Role of the Corporation in Public Life	45	(25)
Poletown Neighborhood Council v. City of Detroit	46	(1)
Charter Township of Ypsilanti v. General Motors Corporation	47	(6)
John Doe I v. Unocal Corporation	53	(17)
The Legal Structure of the Corporation	70	(3)
A Global Perspective	73	(4)
William W. Bratton and Joseph A. McCahery, Comparative
Corporate Governance and the Theory of the Firm: The Case Against Global Cross Reference	74	(3)
The Duties of Directors and Officers	77	(206)
Introduction	77	(1)
The Authority of the Board	78	(8)
People ex rel. Manice v. Powell et al.	81	(2)
Grimes v. Donald	83	(3)
Derivative Litigation	86	(13)
The Distinction Between Derivative and Direct Actions	86	(1)
Eisenberg v. The Flying Tiger Line, Inc.	86	(4)
Grimes v. Donald	90	(1)
Security for Expenses	91	(1)
Baker v. MacFadden Publications, Inc.	91	(3)
Demand on the Board	94	(1)
Grimes v. Donald	94	(3)
The Fiduciary Duties of Directors and Officers	97	(2)
The Duty of Care	99	(56)
Kamin v. American Express Company	99	(5)
Joy v. North	104	(4)
Cede & Co. v. Technicolor, Inc.	108	(9)
In re The Walt Disney Company Derivative Litigation	117	(13)
Francis v. United Jersey Bank	130	(10)
Senn v. Northwest Underwriters Inc.	140	(2)
In re Caremark International Inc. Derivative Litigation	142	(13)
The Duty of Loyalty	155	(27)
Self-Dealing Transactions	156	(1)
Meinhard v. Salmon	156	(6)
Bayer v. Beran	162	(8)
Marciano v. Nakash	170	(6)
Cooke v. Oolie	176	(6)
Fairness	182	(8)
Fair Price: A Matter of Value -- A Primer on Financial Valuation	182	(8)
Not for Profits	190	(4)
Croton River Club, Inc. v. Half Moon Bay Homeowners Association, Inc.	190	(4)
Corporate Opportunity	194	(16)
Broz v. Cellular Information Systems, Inc.	194	(9)
Energy Resources Corporation, Inc. v. Porter	203	(3)
In re eBay, Inc. Shareholders Litigation	206	(4)
Compensation and Waste	210	(21)
Lewis v. Vogelstein	210	(11)
Sanders v. Wang	221	(10)
Demand Refusal and Special Committees in Derivative Litigation	231	(20)
Demand Refusal	232	(1)
Marx v. Akers	232	(7)
Special Committees	239	(1)
Auerbach v. Bennett	239	(6)
Zapata Corporation v. Maldonado	245	(6)
The Sarbanes-Oxley Act of 2002	251	(6)
Disclosure	257	(10)
In re Wheelabrator Technologies, Inc. Shareholders Litigation	257	(10)
Indemnification	267	(16)
Waltuch v. Conticommodity Services, Inc.	267	(10)
Citadel Holding Corporation v. Roven	277	(6)
Closely Held Corporations and Related Matters	283	(182)
Preliminary Matters	285	(15)
A Catalog of Business Forms	285	(1)
Elements of Choice	285	(2)
The Forms of Doing Business	287	(1)
Sole Proprietorship	287	(1)
Partnership	288	(1)
Limited Partnerships	289	(2)
Limited Liability Companies	291	(1)
Limited Liability Partnerships and Limited Liability Limited Partnerships	291	(1)
Agency	291	(1)
Types of Agency Authority	292	(1)
Actual Authority	292	(1)
Apparent Authority	292	(1)
Inherent Authority	293	(1)
Watteau v. Fenwick	294	(2)
Scope of Authority	296	(1)
Clover v. Snowbird Ski Resort	297	(3)
The Process of Incorporating	300	(8)
Promoters, Pre-Incorporation Agreements and Promoter Liability	301	(1)
Coopers & Lybrand v. Fox	302	(2)
Choosing the State of Incorporation	304	(1)
Defective Incorporation	305	(1)
Cranson v. International Business Machines Corp.	306	(2)
Disregard of Corporate Identity	308	(19)
Walkovsky v. Carlton	308	(6)
Kinney Shoe Corporation v. Polan	314	(6)
Notes on Related Concepts	320	(1)
Parent/Subsidiary	320	(1)
Reverse Piercing	321	(1)
Sea-Land Services, Inc. v. The Pepper Source	322	(5)
The Position of Minority Shareholders in Closely Held Corporations	327	(138)
Shareholder Voting and Control	328	(1)
Agreements Among Shareholders	329	(1)
Proxies	330	(1)
Voting Trusts	331	(1)
Shareholders Agreements	332	(1)
Ringling Bros.-Barnum & Bailey Combined Shows, Inc. v. Ringling	333	(6)
Lehrman v. Cohen	339	(7)
Oceanic Exploration Co. v. Grynberg	346	(7)
Ramos v. Estrada	353	(5)
Rosiny v. Schmidt	358	(11)
Shareholders' Ability to Bind Directors	369	(1)
McQuade v. Stoneham	370	(5)
Clark v. Dodge	375	(3)
Galler v. Galler	378	(8)
Fiduciary Duties of Shareholders in Closely Held Corporations	386	(1)
Donahue v. Rodd Electrotype Company of New England, Inc.	387	(9)
Wilkes v. Springside Nursing Home, Inc.	396	(6)
Sugarman v. Sugarman	402	(5)
Zidell v. Zidell, Inc.	407	(3)
Ingle v. Glamore Motor Sales, Inc.	410	(7)
Smith v. Atlantic Properties, Inc.	417	(4)
Remedies for Oppression	421	(1)
Matter of Kemp & Beatley, Inc.	422	(5)
Alaska Plastics, Inc. v. Coppock	427	(5)
In the Matter of the Voluntary Dissolution of Radom & Neidorff, Inc.	432	(3)
In the matter of June Wollman v. Marilyn Littman	435	(1)
Other Shareholder Cases	436	(1)
Sinclair Oil Corporation v. Levien	437	(4)
Anadarko Petroleum Corporation v. Panhandle Eastern Corporation	441	(6)
Zahn v. TransAmerica Corp.	447	(4)
Perlman v. Feldmann	451	(4)
Weinberger v. UOP, Inc.	455	(10)
Basic Issues in Securities Regulation	465	(130)
The Regulation of Transactions in Securities	465	(28)
Registration of Newly Issued Securities Under the Securities Act of 1933	466	(1)
The Meaning of ``Security''	466	(1)
Great Lakes Chemical Corp. v. Monsanto Co.	467	(13)
Koch v. Hankins	480	(7)
The Registration Requirement	487	(1)
Securities and Exchange Commission v. Ralston Purina Co.	488	(5)
Antifraud Provisions of the Securities Acts	493	(75)
Historical Antecedents	493	(1)
Goodwin v. Agassiz	494	(3)
Insider Trading Under the Securities Exchange Act of 1934	497	(1)
Underpinnings of the Modern Rule	497	(1)
In the Matter of Cady, Roberts & Co.	498	(6)
SEC v. Texas Gulf Sulphur	504	(11)
Limitations on the Applicability of §10(b)	515	(1)
Santa Fe Industries, Inc. v. Green	515	(6)
Basic Inc. v. Levinson	521	(11)
Theoretical Expansion of the Concept of ``Insider''	532	(1)
Duty to disclose	532	(1)
Chiarella v. United States	532	(5)
Tippees	537	(1)
Dirks v. SEC	537	(8)
Moss v. Morgan Stanley Inc.	545	(8)
United States v. Chestman	553	(8)
United States v. O'Hagan	561	(7)
Short Swing Profits	568	(27)
Smolowe v. Delendo Corp.	570	(3)
Reliance Electric Co. v. Emerson Electric Co.	573	(6)
Kern County Land Co. v. Occidental Petroleum Corp.	579	(6)
Foremost-McKesson, Inc. v. Provident Securities Company	585	(6)
Chemical Fund v. Xerox Corp.	591	(4)
The Corporation in Modern Society	595	(122)
Protection of Shareholder Voting Participation	595	(55)
The Solicitation Process	596	(1)
Proxy Fight Expenses	597	(1)
Rosenfeld v. Fairchild Engine and Airplane Corp.	597	(10)
Shareholder Rights to Make Proposals for Shareholder Action	607	(1)
Shareholder Proposals	607	(2)
Medical Committee for Human Rights v. SEC	609	(9)
New York City Employees' Retirement System v. Dole Food Co.	618	(8)
Shareholder Right to Inspect	626	(1)
Delaware Code Annotated	627	(1)
McKinney's Consolidated Laws of New York Annotated	627	(3)
State Ex. Rel. Pillsbury v. Honeywell, Inc.	630	(3)
Parsons v. Jefferson-Pilot Corp.	633	(4)
False or Misleading Proxy Materials	637	(1)
Mills v. Electric Auto-Lite Co.	638	(4)
Virginia Bankshares, Inc. v. Sandberg	642	(8)
Protection of Constituencies Other Than Shareholders	650	(19)
Historical Antecedents	651	(1)
A.P. Smith Mfg. Co. v. Barlow	652	(1)
Other Constituencies	652	(1)
New York	653	(1)
Pennsylvania	653	(2)
Plant Closings	655	(1)
Local 1330 United Steel Workers of America v. United States Steel Corp.	656	(10)
Shapiro Bros. Shoe Co., Inc. v. Lewiston-Auburn Shoeworkers Protective Ass'n, Inc.	666	(3)
The Corporation as Political Actor	669	(48)
Political Contributions and Expenditures	671	(1)
First National Bank of Boston v. Bellotti	671	(8)
Austin v. Michigan State Chamber of Commerce	679	(6)
Limitations Based on Government Grant	685	(1)
Reagan v. Taxation With Representation	685	(3)
The Blurring of the Public/Private Distinction	688	(1)
Marsh v. Alabama	689	(6)
Lloyd Corporation, Ltd v. Tanner	695	(9)
New Jersey Coalition Against War in the Middle East v. J. M. B. Realty Corporation	704	(13)
Fundamental Transactions	717	(162)
Sales of Assets	717	(4)
Katz v. Bregman	719	(2)
Mergers	721	(11)
Some Historical Background	721	(2)
Mergers	723	(2)
Farris v. Glen Alden Corporation	725	(5)
Hariton v. Arco Electronics, Inc.	730	(2)
Parent-Subsidiary Mergers	732	(42)
The Remedy	732	(1)
Weinberger v. UOP, Inc.	732	(2)
Cede & Co. v. Technicolor	734	(3)
Weinberger's Reach	737	(1)
Rabkin v. Hunt Chemical Corporation	737	(5)
In re Siliconix Incorporated Shareholders Litigation	742	(7)
Glassman v. Unocal Exploration Corp.	749	(2)
Coggins v. New England Patriots Football Club, Inc.	751	(6)
Leader v. Hycor, Inc.	757	(5)
Ace Ltd. v. Capital Re Corp.	762	(12)
Tender Offers	774	(105)
Unocal Corporation v. Mesa Petroleum Co.	775	(11)
Moran v. Household International, Inc.	786	(6)
Revlon, Inc. v. MacAndrews & Forbes Holdings, Inc.	792	(9)
Paramount Communications, Inc. v. Time Incorporated	801	(13)
Paramount Communications Inc. v. QVC Network Inc.	814	(20)
Unitrin, Inc. v. American General Corp.	834	(18)
Omnicare, Inc. v. NCS Healthcare, Inc.	852	(21)
NY Bus. Corp. Law §912	873	(6)
Index	879