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Full-Text Articles in Law
Trusts - Constructive Trusts - Breach Of Fiduciary Relation Between Husband And Wife With Respect To Oral Agreement Concerning Land
Michigan Law Review
In her last illness, Mrs. Jackson desired to transfer realty to her married daughter, plaintiff herein. To prevent creditors of the daughter's husband from reaching the property, Mrs. Jackson conveyed the land to her husband, Mr. Jackson, with the parol understanding that "he would see that Cora got it." Jackson failed to transfer the land and upon his death it passed under an ante-nuptial settlement to defendant, his second wife. In an action to recover the land, the court stated that defendant was in the position of a bona fide purchaser for value, and held that the statute of frauds …
Constitutional Law - State Police Power - Regulation Of Advertising By Dentist
Constitutional Law - State Police Power - Regulation Of Advertising By Dentist
Michigan Law Review
Plaintiff, a practicing dentist, brought an action to enjoin the enforcement of a section of Oregon legislation regulating the practice of dentistry, which defined certain types of advertising and solicitation as unprofessional conduct and, as such, ground for the revocation of a license to practice. The section was upheld by the state supreme court and plaintiff appealed to the United States Supreme Court, alleging that the statute was unconstitutional in that it impaired the obligations of existing contracts and violated the "due process" and "equal protection" clauses of the Fourteenth Amendment. Held, that the statute was a valid exercise …
Corporations-State Privilege Taxes-Valuation Of Property To Determine Surplus
Corporations-State Privilege Taxes-Valuation Of Property To Determine Surplus
Michigan Law Review
Various bases have been evolved in this country for computing corporation privilege taxes. Of special interest is the fact that seven states have made corporate surplus together with capital the basis for such taxes - Louisiana, Michigan, Mississippi, Missouri, North Carolina, Ohio, and Texas. The statutes of these states adopt either the gross value or the net value of the assets of corporations as the foundation of the tax, depending upon whether or not liabilities may be deducted. In fixing the amount of such a tax, some valuation of corporate property to determine the corporation's surplus is necessary.
Corporations - Exculpatory Provision In Bond - Stockholders' Liability For Illegal Dividends
Corporations - Exculpatory Provision In Bond - Stockholders' Liability For Illegal Dividends
Michigan Law Review
A bondholders' protective committee sued a holding company under a Michigan statute making stockholders in street railway companies, who knowingly receive dividends in impairment of capital stock, liable for corporate debt then existing and subsequently accruing while they remain stockholders. The defense relied on was a "no recourse" clause in the bonds wherein the creditors waived their rights to any assessment whatsoever "against any incorporator, stockholder, officer or director of the railway company, or any successor corporation." Held, the "no recourse" clause waived only liabilities where the defendant acted in good faith; not where the defendant acted fraudulently in …
Corporations -Liability Of Broker On Misleading Circulars
Corporations -Liability Of Broker On Misleading Circulars
Michigan Law Review
The possibilities of civil and criminal liability under the recent Securities Act of 1933 and the Securities Exchange Act of 1934 have caused considerable fear to those business groups which take part in the business of issuing and transferring corporate securities. The federal acts do subject the vendor of securities who induces sales by means of false or misleading prospectuses and circulars to a possibility of civil liability which was not present under the common law. In a recent Michigan case, the court reached substantially the objectives sought by these acts by applying the existing rules of common law in …
Automobiles-- Insurance - Effect Of Delay In Giving Notice Of Accident
Automobiles-- Insurance - Effect Of Delay In Giving Notice Of Accident
Michigan Law Review
Plaintiff, a boy of six, was struck by an automobile driven by the insured's brother who, after investigation, found no apparent injury and was so informed by the boy's mother. A week later the driver reported the affair to the insured. Two weeks after the accident the insured was notified of the plaintiff's claim. A week later, three weeks after the accident, the insurer was notified. The policy of liability insurance provided that "upon the occurrence of death or personal injuries or any accident covered by this policy, the assured shall as soon as practicable after learning thereof, give written …
Are Unfair Methods Of Competition Actionable At The Suit Of A Competitor?, Grover C. Grismore
Are Unfair Methods Of Competition Actionable At The Suit Of A Competitor?, Grover C. Grismore
Michigan Law Review
The steps which have recently been taken, both through federal and state legislation, to regulate trade practices by outlawing what have been denominated "unfair methods of competition" have brought to the fore a problem that has vexed lawyers and legal writers for a long time. The question is whether a competitor who has been injured as a result of a rival's use of one of the condemned methods of competition can maintain any action either at law or in equity against the wrongdoer. Contrary to what has always been the practice in drafting so-called "anti-trust" laws, the legislation dealing with …
Evidence - Admissibility Of Parol Evidence Showing That Contract In Writing Was Executed Only As Sham, John E. Tracy
Evidence - Admissibility Of Parol Evidence Showing That Contract In Writing Was Executed Only As Sham, John E. Tracy
Michigan Law Review
An individual is sued on a written contract or, suing on an alleged oral agreement, is confronted by a written contract which he has signed. He offers testimony that, although he executed the instrument which bears his name freely and with full knowledge of its contents, he is not to be held liable thereon because the agreement between the parties was that it should never be legally enforceable, the sole purpose of its execution having been to deceive some third person into a belief that the parties to the instrument had contracted together as in the instrument set forth.