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Contracts - Partial Illegality - Contract In Restraint Of Trade May 1932

Contracts - Partial Illegality - Contract In Restraint Of Trade

Michigan Law Review

The plaintiff contracted to transfer his law business, property used in connection therewith, and good will to the defendant and to refrain from practicing law within the state until the time set for payment of the balance of the contract price. The balance not having been paid at maturity, the plaintiff brought an action on the contract, alleging full performance on his part. The defendant demurred on the ground that the contract constituted an illegal restraint of trade under Oklahoma statutes which declare that agreements in restraint of trade upon selling the good will of a business are void to …


Corporations - New Types Of Securities Under Blue Sky Legislation May 1932

Corporations - New Types Of Securities Under Blue Sky Legislation

Michigan Law Review

The plaintiff company, in order to secure capital to finance the purchase and construction of retail gasoline stations and bulk plants in Wisconsin, proposed to sell coupon books for the sum of $35 per book. Purchases made with these coupons entitled the holder of the book to certain credits which, upon accumulation, were to be redistributed to him in cash upon presentation of coupons in the amount of 25 cents or more. Along with each coupon book there was to be issued to each purchaser a so-called good-will contract which, after stating its purpose as being to secure the good …


Trade Restraints - Resale Price Maintenance Feb 1932

Trade Restraints - Resale Price Maintenance

Michigan Law Review

Petition to review an order of the Federal Trade Commission requiring the petitioner to cease and desist certain trade methods found to be unfair. Held, that while the petitioner had a right to refuse to sell goods to those who did not sell them at the suggested resale prices, with the further right to state to them its reasons for so doing, the petitioner was rightly ordered to desist from requiring dealers, placing orders, to give assurance that they would be governed by the suggested resale prices as a condition precedent to the acceptance of the orders. Shakespeare Co. …


Contracts - Illegality- General Restraint Of Trade Jan 1932

Contracts - Illegality- General Restraint Of Trade

Michigan Law Review

Defendants sold their stock in a manufacturing corporation with a covenant in the contract to the effect that they would not engage in the sale or manufacture of bunghole appliances in the United States, east of the Mississippi, for a period of sixteen years. Held, a contract which does not permit one to engage in his trade anywhere within the state is one in general restraint of trade and is ipso facto illegal and void. Parish et al. v. Schwartz et al. (Ill. 1931) 176 N.E. 757.