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Full-Text Articles in Law
Specific Performance-Oral Promise To Devise In Consideration Of Personal Services, C. J. Rice
Specific Performance-Oral Promise To Devise In Consideration Of Personal Services, C. J. Rice
Michigan Law Review
Decedent orally agreed that if plaintiff would render services as housekeeper, practical muse and general business associate, he would devise and bequeath one-half of his estate to her. Decedent died without having made a will, and plaintiff sought specific performance of the agreement. Held, performance of these services did not take the oral contract out of the operation of the statute of frauds because the services were capable of measurement in money, and recovery on a quantum meriut basis was adequate. Snyder v. Warde, 151 Ohio St. 426, 86 N.E. (2d) 489 (1949).
Eminent Domain - Disposition Of Award When Land Is Subject To Life Estate And Remainder, Mary Jane Morris
Eminent Domain - Disposition Of Award When Land Is Subject To Life Estate And Remainder, Mary Jane Morris
Michigan Law Review
Testator devised property to his adopted daughter for life and remainder to her children, but should she leave no children at her death, then the estate was to go to a named charity. The United States took title to this property and paid the compensation into court. The life tenant and one of the five children filed a motion that the life tenant be permitted to withdraw the funds arising from the condemnation for the purpose of having them immediately reinvested in other real estate and/or government securities. This motion was approved by the guardian ad litem for the one …
Wills - Legacy To Creditor - Presumption Of Satisfaction Of Debt, Michigan Law Review
Wills - Legacy To Creditor - Presumption Of Satisfaction Of Debt, Michigan Law Review
Michigan Law Review
Plaintiff, a bank employee and personal friend of the testatrix, rendered to her and her late husband frequent and considerable services in connection with the management of their property. He received no compensation for these services, but both wife and husband indicated that he was to be compensated in the will of the survivor of the couple. There was evidence that the amount of such compensation was to be as much as $12,000. Actually, plaintiff received about $3,000 by the wife's will. It was not indicated in the will whether or not the legacy was intended to satisfy the indebtedness. …
Executors And Administrators - Effect Of Testamentary Provisions On Executors' Fees, Michigan Law Review
Executors And Administrators - Effect Of Testamentary Provisions On Executors' Fees, Michigan Law Review
Michigan Law Review
At the early English law an executor was entitled to the surplus of the personal estate after the payment of debts and legacies, but this practice nowhere prevails today. At common law the office of executor was regarded as honorary, to be performed without compensation unless the will expressly provided for compensation. It is doubtful if the common-law rule ever obtained in this country, where from a very early time it has been universally considered that executors are normally entitled to reasonable compensation not only to reward them for their time, labor and trouble, but also for the responsibility incurred …
Trusts - Validity - Subject Matter - Profits To Be Acquired In The Future, Paul R. Trigg
Trusts - Validity - Subject Matter - Profits To Be Acquired In The Future, Paul R. Trigg
Michigan Law Review
The plaintiff contemplated trading in the stock market and in 1927 declared a trust of the proceeds of his stock trading for the year 1928 in favor of various members of his immediate family, agreeing to assume all losses personally and to distribute all profits equally among the beneficiaries after deducting a reasonable compensation for his services. At the expiration of the year 1928, plaintiff deducted $10,000 as compensation, which he reported in his tax return for that year, and credited the named beneficiaries with the remainder on his books, these amount being reported in their respective tax returns for …
Corporations-What Amounts To Practice Of Law-Solution Of The Difficulty By Agreements
Corporations-What Amounts To Practice Of Law-Solution Of The Difficulty By Agreements
Michigan Law Review
The defendant trust company advertised that it made a specialty of drawing contracts, deeds, mortgages and wills. It also purported to specialize in the drawing of trust agreements and the management of estates. In a statutory contempt proceeding, upon proof of the performance of these functions for compensation, held the defendant was engaged in the practice of law, and guilty of contempt. In re Eastern Idaho Loan and Trust, Co. (Idaho 1930) 288 Pac. 157.