Corporations -- 1962 Tennessee Survey

I. Jurisdiction Over Foreign Corporations--The Solicitation Plus Rule The extent of Tennessee's assertion of jurisdiction over foreign corporations was considered in Atchison, Topeka & Santa Fe Ry. v. Oritz' and Fisher v. Trion, Inc. by two of the Tennessee courts of appeal. Both cases are of interest because of their respective approaches to the so-called "solicitation plus" rule. =============================== II. Corporate Promotions Community General Hospital, Inc. v. Diehl involved an unsuccessful promotion of a hospital corporation. A preferred stockholder had brought a class action in the Chancery Court of Shelby County for the appointment of a receiver to carry out the dissolution of the corporation and for the cancellation of common stock which the directors had issued to themselves. =============================== III. Interpretation of Conditional Agreement to Reduce Salaries--Balance Sheet vs. Income Statement Approach Tennessee Products & Chemical Corp. v. United States was a suit for refund of federal income taxes which dealt with the interpretation of a condition attached to an obligation of a corporate officer to repay to the corporation withdrawals in excess of his salary.