Law Commons^™

Contracts-Duty To Mitigate Damages Upon Anticipatory Breach Of Forward Contract Of Sale, William F. Snyder

Michigan Law Review

The theory of our law in regard to damages for breach of contract has been to give the innocent party as nearly as possible what he would have received had the contract been performed. To this end, our courts have worked out a rough formula which has been described by Professor Grismore as follows:

" ... The promisee is, in general, entitled to recover the economic equivalent of the performance promised, at the time and place fixed in the contract, plus any losses incurred or gains prevented through not receiving it, less any savings that have resulted to the promisee …

Trade Regulations-Deceptive Practices, Earl R. Boonstra

Michigan Law Review

Petitioner, an importer, distributed catalogs among some 25,000 retailers describing his porcelain line as follows: "IMPORTED Hand Decorated 'Du Barry' Porcelain," and " 'Du BARRY' Porcelain table lamps are nationally famous as reproductions of rare, original French and English 'old pieces.'" The Federal Trade Commission found that the advertising impliedly represented that the origin was French or British, whereas the products were made in Japan. A cease and desist order was issued prohibiting use of the legend, "Imported-Du Barry,'' or any other legend suggesting French origin, without clearly disclosing the fact of import from Japan. Held, affirmed. The order …

Corporations-Separation Of The Voting Power From Legal And Beneficial Ownership Of Corporate Stock, Richard V. Ehrick S.Ed.

Michigan Law Review

The Supreme Court of Michigan recently decided the case of Ecclestone v. Indialantic, Inc., the important facts being as follows: in June, 1942, defendant Emmons, owner of 451 shares of the common stock of Indialantic, Inc., a Florida corporation, transferred his entire holding to the Detroit Orthopedic Clinic in payment of an antecedent debt, reserving to himself, however, the sole right to vote the stock until the assets of the corporation were substantially liquidated. In March, 1946, with notice of this reservation of the right to vote, the plaintiff purchased all of these shares from the Clinic and thereby …

Partnerships-Sale Of Goodwill-Right Of Retiring Partner To Eject Partnership From Leased Premises, Paul W. Eaton, Jr.

Michigan Law Review

Plaintiff, owning a one-third interest in a partnership, sold his interest to the other partners, among them the defendant. Included in the sale was the goodwill of the partnership. The reversion in the property leased by the partnership was subsequently acquired by plaintiff, who notified defendant to vacate the premises upon termination of the lease. Defendant refused, and plaintiff brought a forcible entry and detainer action, recovering judgment in the trial court. On appeal, held, affirmed. Stone v. Lerner, (Colo. 1948) 195 P. (2d) 964.

Partnership -- Uniform Partnership Act--Right Of Surviving Partner To Purchase Partnership Property, Melvin J. Spencer

Michigan Law Review

Defendants, administrators of the estate of the deceased partner, agreed with the surviving partner to continue the partnership hotel business, with the approval of the probate court. After some operation, the surviving partner sued to compel the administrators to sell him the interest of the deceased at a value to be judicially determined. Defendants cross-complained, asking the court to liquidate the business and award them the amount of the interest of the deceased in the proceeds. Held, reversing the decree below, the assets of the dissolved partnership should be liquidated, in accord with defendants' prayer. Zach v. Schulman, …

Bills And Notes-Personal Liability Of Agent Who Signs Note Which Principal Has No Legal Power To Execute, N. S. Peterman S.Ed.

Michigan Law Review

Defendant gave a note, signed by him in his representative capacity as village president, to plaintiff in payment for services rendered to the village. Defendant signed after he was authorized to do so by a resolution of the village board of trustees. The facts showed that the parties understood the village to be the primary obligor on the note. Actually, the village had no legal power to make such notes and could not have been indebted by them. Plaintiff sued defendant as an individual and won a verdict in the trial court. On appeal, held, reversed. Defendant having signed …