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Full-Text Articles in Law
Anticipatory Repudiation Of Contracts And Necessity Of Election, L. Vold
Anticipatory Repudiation Of Contracts And Necessity Of Election, L. Vold
Michigan Law Review
Where a breach of contract takes place several courses of conduct are normally open to the aggrieved promisee. He may bring an action for damages. He often may rescind for the breach. He sometimes may sue for specific performance. He may accept later performance on account. He may try to persuade the defaulting party to live up to the contract. He may for the time being ignore both the contract and the breach. If he follows certain of these courses of conduct others may thereby become impossible. He thus has an election of remedies, a choosing between inconsistent courses of …
Corporations-Debts In Excess Of Statuatory Limit
Corporations-Debts In Excess Of Statuatory Limit
Michigan Law Review
Business Corporations generally have the power to borrow money for the purpose of their ordinary business, and to give the customary evidence of the debt and security therefor. Such power can be limited only by statute or by the charter. Statutes frequently provide that corporations should not incur indebtedness in excess of some particular stated amount, usually a certain proportion of the capital stock. A recent Nebraska case allowed the lender full recovery from the guarantor of corporate notes given in exchange for a loan in excess of the statutory limit, holding that excessive indebtedness does not necessarily invalidate contract …
Recent Important Decisions
Michigan Law Review
A collection of recent important court decisions.