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Louis K. Liggett Co. V. Lee
''Louis K. Liggett Co. v. Lee'', 288 U.S. 517 (1933), is a corporate law decision from the United States Supreme Court.. In his opinion, Justice Brandeis endorsed the theories that state corporate law, and lack of federal standards, enabled a race to the bottom in corporate law rules, or one of "laxity". He also expounded the evidence that the Great Depression was caused by disparities of income and wealth brought about by the corporation, which he likened to Frankenstein's monster. Facts The case involved retail business taxes in the Florida being based on the number of stores and not the value or sales of the stores. Judgment The majority of the Supreme Court, with the opinion delivered by Roberts J, held that § 5 of the Florida Act, which increased tax if stores were present in more than one county, was unreasonable and arbitrary and violated the equal protection clause. Justice Brandeis dissented. He agreed with the race to the bottom theory of corporate law, proposed by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supreme Court Of Florida
The Supreme Court of Florida is the highest court in the U.S. state of Florida. It consists of seven members: the chief justice and six justices. Six members are chosen from six districts around the state to foster geographic diversity, and one is selected at large. The justices are appointed by the governor to set terms, which do not exceed six years. Immediately after appointment, the initial term is three years or less because the justices must appear on the ballot in the next general election that occurs more than one year after their appointment. Afterward, they serve six-year terms and remain in office if retained in the general election near the end of each term. Citizens vote on whether or not they want to retain each justice in office.Florida's Legal & Judicial System ''Guide to Florida Law'' Chi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supreme Court Of The United States
The Supreme Court of the United States (SCOTUS) is the highest court in the federal judiciary of the United States. It has ultimate appellate jurisdiction over all U.S. federal court cases, and over state court cases that involve a point of federal law. It also has original jurisdiction over a narrow range of cases, specifically "all Cases affecting Ambassadors, other public Ministers and Consuls, and those in which a State shall be Party." The court holds the power of judicial review, the ability to invalidate a statute for violating a provision of the Constitution. It is also able to strike down presidential directives for violating either the Constitution or statutory law. However, it may act only within the context of a case in an area of law over which it has jurisdiction. The court may decide cases having political overtones, but has ruled that it does not have power to decide non-justiciable political questions. Established by Article Three of the United States ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Justice Brandeis
Louis Dembitz Brandeis (; November 13, 1856 – October 5, 1941) was an American lawyer and Associate Justice of the Supreme Court of the United States, associate justice on the Supreme Court of the United States from 1916 to 1939. Starting in 1890, he helped develop the "right to privacy" concept by writing a ''Harvard Law Review'' article of The Right to Privacy (article), that title, and was thereby credited by legal scholar Roscoe Pound as having accomplished "nothing less than adding a chapter to our law." He was a leading figure in the antitrust movement at the turn of the century, particularly in his resistance to the monopolization of the New England railroad and advice to Woodrow Wilson as a candidate. In his books, articles and speeches, including ''Other People's Money and How the Bankers Use It'', and ''The Curse of Bigness'', he criticized the power of large banks, money trusts, powerful corporations, monopolies, public corruption, and mass consumerism, all o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Florida
Florida is a state located in the Southeastern region of the United States. Florida is bordered to the west by the Gulf of Mexico, to the northwest by Alabama, to the north by Georgia, to the east by the Bahamas and Atlantic Ocean, and to the south by the Straits of Florida and Cuba; it is the only state that borders both the Gulf of Mexico and the Atlantic Ocean. Spanning , Florida ranks 22nd in area among the 50 states, and with a population of over 21 million, it is the third-most populous. The state capital is Tallahassee, and the most populous city is Jacksonville. The Miami metropolitan area, with a population of almost 6.2 million, is the most populous urban area in Florida and the ninth-most populous in the United States; other urban conurbations with over one million people are Tampa Bay, Orlando, and Jacksonville. Various Native American groups have inhabited Florida for at least 14,000 years. In 1513, Spanish explorer Juan Ponce de León became the first k ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Equal Protection Clause
The Equal Protection Clause is part of the first section of the Fourteenth Amendment to the United States Constitution. The clause, which took effect in 1868, provides "''nor shall any State ... deny to any person within its jurisdiction the equal protection of the laws.''" It mandates that individuals in similar situations be treated equally by the law. A primary motivation for this clause was to validate the equality provisions contained in the Civil Rights Act of 1866, which guaranteed that all citizens would have the guaranteed right to equal protection by law. As a whole, the Fourteenth Amendment marked a large shift in American constitutionalism, by applying substantially more constitutional restrictions against the states than had applied before the American Civil War, Civil War. The meaning of the Equal Protection Clause has been the subject of much debate, and inspired the well-known phrase "Equal justice under law, Equal Justice Under Law". This clause was the basis for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Race To The Bottom
Race to the bottom is a socio-economic phrase to describe either government deregulation of the business environment or reduction in corporate tax rates, in order to attract or retain usually foreign economic activity in their jurisdictions. While this phenomenon can happen between countries as a result of globalization and free trade, it also can occur within individual countries between their sub-jurisdictions (states, localities, cities). It may occur when competition increases between geographic areas over a particular sector of trade and production. The effect and intent of these actions is to lower labor rates, cost of business, or other factors (pensions, environmental protection and other externalities) over which governments can exert control. This deregulation lowers the cost of production for businesses. Countries/localities with higher labor, environmental standards, or taxes can lose business to countries/localities with less regulation, which in turn makes them want t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Adolf Berle
Adolf Augustus Berle Jr. (; January 29, 1895 – February 17, 1971) was an American lawyer, educator, writer, and diplomat. He was the author of ''The Modern Corporation and Private Property'', a groundbreaking work on corporate governance, a professor at Columbia University, and an important member of US President Franklin Roosevelt's "Brain Trust." Early life Berle was born in Boston, Massachusetts, the son of Mary Augusta (Wright) and Adolf Augustus Berle. He entered Harvard College at age 14, earning a bachelor's degree in 1913 and a master's degree in 1914. He then enrolled in Harvard Law School. In 1916, at age 21, he became the second youngest graduate in the school's history, behind only Louis Brandeis. Career Early career Upon graduation Berle joined the US military. His first assignment as an intelligence officer was to assist in increasing sugar production in the Dominican Republic by working out property and contractual conflicts among rural landowners. Immediately af ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gardiner Means
Gardiner Coit Means (June 8, 1896 in Windham, Connecticut – February 15, 1988 in Vienna, Virginia) was an American economist who worked at Harvard University, where he met lawyer-diplomat Adolf A. Berle. Together they wrote the seminal work of corporate governance, ''The Modern Corporation and Private Property''. During the New Deal, Means served as an economic adviser to Franklin D. Roosevelt and Henry A. Wallace. Academic work Means followed the institutionalist tradition of economists. In 1934 he coined term "administered prices" to refer to prices set by firms in monopoly positions. In ''The Corporate Revolution in America'' (1962) he wrote: "We now have single corporate enterprises employing hundreds of thousands of workers, having hundreds of thousands of stockholders, using billions of dollars' worth of the instruments of production, serving millions of customers, and controlled by a single management group. These are great collectives of enterprise, and a system com ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Modern Corporation And Private Property
''The Modern Corporation and Private Property'' is a book written by Adolf Berle and Gardiner Means published in 1932 regarding the foundations of United States corporate law. It explores the evolution of big business through a legal and economic lens, and argues that in the modern world those who legally have ownership over companies have been separated from their control. The second, revised edition was released in 1967. It serves as a foundational text in corporate governance, corporate law (company law), and institutional economics. Berle and Means argued that the structure of corporate law in the United States in the 1930s enforced the separation of ownership and control because the corporate person formally owns a corporate entity even while shareholders own shares in the corporate entity and elect corporate directors who control the company's activities. ''The Modern Corporation and Private Property,'' first brought forward issues associated with the widely dispersed owne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
US Corporate Law
United States corporate law regulates the governance, finance and power of corporations in US law. Every state and territory has its own basic corporate code, while federal law creates minimum standards for trade in company shares and governance rights, found mostly in the Securities Act of 1933 and the Securities and Exchange Act of 1934, as amended by laws like the Sarbanes–Oxley Act of 2002 and the Dodd–Frank Wall Street Reform and Consumer Protection Act. The US Constitution was interpreted by the US Supreme Court to allow corporations to incorporate in the state of their choice, regardless of where their headquarters are. Over the 20th century, most major corporations incorporated under the Delaware General Corporation Law, which offered lower corporate taxes, fewer shareholder rights against directors, and developed a specialized court and legal profession. Nevada has done the same. Twenty-four states follow the Model Business Corporation Act, while New York and Calif ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UK Company Law
The United Kingdom company law regulates corporations formed under the Companies Act 2006. Also governed by the Insolvency Act 1986, the UK Corporate Governance Code, European Union Directives and court cases, the company is the primary legal vehicle to organise and run business. Tracing their modern history to the late Industrial Revolution, public companies now employ more people and generate more of wealth in the United Kingdom economy than any other form of organisation. The United Kingdom was the first country to draft modern corporation statutes, where through a simple registration procedure any investors could incorporate, limit liability to their commercial creditors in the event of business insolvency, and where management was delegated to a centralised board of directors. An influential model within Europe, the Commonwealth and as an international standard setter, UK law has always given people broad freedom to design the internal company rules, so long as the mandato ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Corporate Case Law
United may refer to: Places * United, Pennsylvania, an unincorporated community * United, West Virginia, an unincorporated community Arts and entertainment Films * ''United'' (2003 film), a Norwegian film * ''United'' (2011 film), a BBC Two film Literature * ''United!'' (novel), a 1973 children's novel by Michael Hardcastle Music * United (band), Japanese thrash metal band formed in 1981 Albums * ''United'' (Commodores album), 1986 * ''United'' (Dream Evil album), 2006 * ''United'' (Marvin Gaye and Tammi Terrell album), 1967 * ''United'' (Marian Gold album), 1996 * ''United'' (Phoenix album), 2000 * ''United'' (Woody Shaw album), 1981 Songs * "United" (Judas Priest song), 1980 * "United" (Prince Ital Joe and Marky Mark song), 1994 * "United" (Robbie Williams song), 2000 * "United", a song by Danish duo Nik & Jay featuring Lisa Rowe Television * ''United'' (TV series), a 1990 BBC Two documentary series * ''United!'', a soap opera that aired on BBC One from 1965-19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
