Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 3 of 3
Full-Text Articles in Law
Joint Adventure-Actions At Law For Share Of Profits, Hobart Taylor, Jr.
Joint Adventure-Actions At Law For Share Of Profits, Hobart Taylor, Jr.
Michigan Law Review
Action in assumpsit for money due under a contract whereby defendant leased plaintiff's entire clothing factory for the manufacture of 20,000 coats for which defendant held a government contract. By the terms of the agreement, plaintiff was to receive one-half of the net profits. The agreement expressly stated that they were not to be partners. The coats were manufactured pursuant to the agreement. Held, a mere agreement to share profits is, between the parties, insufficient to create a partnership, and assumpsit may be maintained by the members of a joint adventure inter sese for the agreed share of profits. …
The Power To Carry On The Business Of A Decedent, Harry Adelman
The Power To Carry On The Business Of A Decedent, Harry Adelman
Michigan Law Review
The continuation of a business for the sole purpose of making a profit is clearly beyond the scope of liquidating the estate of a decedent. It is rather a trust of the business, created for the benefit of the creditors of the decedent and persons entitled to share in the distribution of the estate. The business is managed as a normal going concern, on a somewhat permanent basis, rather than as a temporary means of preserving the value for an advantageous sale.
The Institute's Restatement And The Michigan Law, Herbert F. Goodrich
The Institute's Restatement And The Michigan Law, Herbert F. Goodrich
Michigan Law Review
The task which the American Law Institute has undertaken is to make a statement of the common law, in its various branches. The end in view is not codification; indeed the idea is directly opposed to codification. It is hoped to have, when the work is completed, an accurate statement of existing common law, carefully and systematically made, from which local variations and peculiarities have been ironed out. It is hoped, in other words, to restore both accuracy and continuity to the pattern of the common law fabric as it is woven in our judicial mills.