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Secured Obligations, Benjamin M. Quigg, Jr.
Secured Obligations, Benjamin M. Quigg, Jr.
Michigan Law Review
The scope of this discussion probably is best defined in the words of the act itself as appear in section 302 (1): "obligations secured by mortgage, trust deed, or other security in the nature of a mortgage · upon real or personal property, owned by a person in military service at the commencement of the period of military service"; and the problems herein discussed are those which arise under the act in connection with the sale, foreclosure, seizure, or repossession of property which is security for such obligations.
Installment Contracts
Michigan Law Review
Section 301 of the Soldiers' and Sailors' Civil Relief Act of 1940, as amended in 1942, is designed to protect the serviceman who has purchased property on the installment plan against forfeitures. It provides that a vendor or seller (or his assignee) of real or personal property (including a lease or bailment with a view to purchase) may not terminate or rescind his contract or resume possession of the property because of nonpayment or for any other breach of contract except by an action brought in a court of competent jurisdiction. This section is applicable in all cases in which …