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Bank of the United States v. Deveaux, 9 US 61 (1809) is an early US corporate law case decided by the US Supreme Court.It held that corporations have the capacity to sue in federal court on grounds of diversity under article three, section two of the United States Constitution. [1]
Corporate personhood or juridical personality is the legal notion that a juridical person such as a corporation, separately from its associated human beings (like owners, managers, or employees), has at least some of the legal rights and responsibilities enjoyed by natural persons.
According to a 2021 study, the ruling weakened political parties while strengthening single-issue advocacy groups and super PACs funded by billionaires with pet issues. The ruling made it easier for self-promoting politicians to undermine political processes and democratic norms to promote themselves by soliciting funds from such committees. [106]
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Marquette Nat. Bank of Minneapolis v. First of Omaha Service Corp., 439 U.S. 299 (1978), is a unanimous U.S. Supreme Court decision holding that state anti-usury laws regulating interest rates cannot be enforced against nationally chartered banks based in other states.
But it seems as if corporations are doing better than ever. Revenue and profits at Fortune 500 companies grew significantly between 2014 and 2022, hiking even more in the years after the pandemic hit.
Free Enterprise Fund v. Public Company Accounting Oversight Board, 561 U.S. 477 (2010), was a 5–4 decision by the U.S. Supreme Court in which the Court ruled that laws enabling inferior officers of the United States to be insulated from the Presidential removal authority with two levels of "for cause" removal violated Article Two of the United States Constitution.
Dodge v. Ford Motor Co., 204 Mich 459; 170 NW 668 (1919), [1] is a case in which the Michigan Supreme Court held that Henry Ford had to operate the Ford Motor Company in the interests of its shareholders, rather than in a manner for the benefit of his employees or customers.