Business Law Section

The Business Law Section furthers the knowledge of its members in the law of the Uniform Commercial Code, banking law, corporate law, partnership law, matters of debtor and creditor relations, and litigation practice related to such law.

Lincoln Memorial University Duncan...
601 W. Summit Hill Dr.
Knoxville, TN 37902
The University of Tennessee...
1505 W. Cumberland Avenue
Knoxville, TN 37996
Twitter: VolunteerTwit
Staff Coordinator
Tennessee Bar Association
221 4th Avenue N. Suite 400
Nashville, TN 37219

October TBJ Highlights Online Sales Tax, Celebrate Pro Bono Month

What does a South Dakota case have to do with us here in Tennessee? After Wayfair, our cover story points out, there will be significant impact on commerce and tax collection in our state, too. Also, it is the 10th anniversary of Celebrate Pro Bono Month! Read about its impact and how you can get involved; a word from TBA President Jason Pannu on the legal needs of low-income Tennesseans; and the remembrance of pro bono lawyer and historical hero, Lutie Lytle. Read the whole October issue here.

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S.E.C. Sues Tesla CEO Elon Musk

The Securities and Exchange Commission filed a lawsuit in New York Federal Court accusing Tesla CEO Elon Musk of committing fraud by making false public statements on Twitter that had the potential to hurt investors, the New York Times reports. The suit aims to bar Musk from serving as an executive or director of publicly traded companies, such as Tesla; this type of punishment is one of the harshest that the S.E.C. can impose on corporate executives. In the Aug. 7 tweet, Musk said he was considering taking Tesla private and that the financing for this possible conversion was "secured." However, neither Tesla nor Musk had actually secured financing beyond initial conversations with investors. A 2013 S.E.C. policy permits companies to disclose market-moving information via Twitter, provided investors are given advance notice that the corporation may do so. Tesla had given investors notice that Musk’s Twitter account is one venue the company may deliver significant announcements.

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