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#92 - Explaining the 2022 UCC Amendments, with Professor Carla Reyes

Law of Code

CHAPTER

The Impetus for Rockefeller to Use the Business Trust as a Substitute Business Entity

The corporation wasn't a great vehicle for Rockefeller who was working very hard to integrate across state lines and obviously across industries. So he turned to the business trust, which was a common law, business entity formed by contract in order to achieve the business purpose that he wanted. And it allowed them to avoid the limitations A, of like having their charter yanked out from underneath them and B, help them grow sort of much larger than any other corporation at the time.

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