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Contracts-Bills And Notes-Precedent Debt As Consideration In The Law Of Contracts And Negotiable Instruments, Shubrick T. Kothe S.Ed.
Contracts-Bills And Notes-Precedent Debt As Consideration In The Law Of Contracts And Negotiable Instruments, Shubrick T. Kothe S.Ed.
Michigan Law Review
Today, there is little left of the sixteenth century rule that a precedent debt is consideration sufficient to ground an action of assumpsit. Modern cases, such as those where a debt is barred by the Statute of Limitations or discharged in bankruptcy, where it is historically applicable, generally do not rest upon that theory. As a practical matter, it makes little difference. These cases achieve a just result, and have been confined to standard fact situations. The doctrine seems clearly at variance with the rule that consideration cannot be past, and serves no useful purpose today. Cases where this problem …
Wills-Incorporation By Reference-Comparison With Secret Trusts And Acts Of Independent Significance, T. L. Tolan, Jr. S.Ed.
Wills-Incorporation By Reference-Comparison With Secret Trusts And Acts Of Independent Significance, T. L. Tolan, Jr. S.Ed.
Michigan Law Review
Legal doctrines have been developed to define the extent to which events outside the will itself may control the testamentary dispositions. Incorporation by reference, acts of independent significance, and secret trusts are related in their concern with testators' attempts to determine major parts of testamentary schemes by acts not written on the attested paper first presented for probate. The present discussion investigates the degree to which the courts adhere to the definitions of these doctrines and the traditional distinctions between them.