Consideration stands at the very center of the common law's approach to contract law and the doctrine survives at every turn. The author analyzes the Alabama Supreme Court's decision in Webb v. McGowin on its seventy-fifth anniversary and finds that the decision still merits admiration. Although...

Donahue v. Rodd Electrotype Company of New England should be viewed as a beachhead of progress concerning fiduciary duties owed among the shareholders in small companies. The author argues that the decision should be followed by other United States jurisdictions. He also encourages the courts in...

Valuing stock in closely-held corporations is perplexing for most courts. Valuation techniques are complex and courts are often unfamiliar with accounting and financial theory. However, valuation of stock in close corporations is required in order to assess income taxes from purchases or sales,...

The law and practice relating to the protection of investors is of paramount importance in both developing and developed societies. In recent times, the limited liability company has emerged as the dominant form of business operation, and the public company has provided the best opportunity to...

The author discusses an exception to the broad immunities granted to foreign governments by the act of state doctrine. Professor Leacock examines the "commercial activity" exception to the doctrine, which was declared by a plurality of the U.S. Supreme Court in Alfred Dunhill v. Republic of...

Bequests to establish trusts that confer educational benefits on racial preferences are troublesome. The common law jurisdictions of the United States have grappled with this problem and have designed solutions that differ from the Barbados and United Kingdom approach. Constitutional law issues...

The following article is a presentation of precatory words and the creation of trusts in a Commonwealth Caribbean jurisdiction. Re Codrington, U.S.P.G. v. Attorney-General concerned a bequest in the will of Christopher Codrington, who was once Chief Governor of the Leeward Islands, and who died...

In free market economies, corporate laws change over time. Modernization of corporate law is also crucial to commercial growth and to free market economies. The author argues that concepts that have outlived their utility, such as the ultra vires doctrine, should be promptly eliminated where...

Share transfer restrictions in close corporations tend to prevent outsiders from purchasing shares and potentially damaging the company. Analysis, evaluation, and synthesis of legally valid share transfer restrictions' in the corporate documents of close corporations is a first step, but such...