Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Law
Bills And Notes-Holders In Due Course-Effect Of Knowledge Of Executory Character Of Consideration
Bills And Notes-Holders In Due Course-Effect Of Knowledge Of Executory Character Of Consideration
Michigan Law Review
In an action on a promissory note the plaintiff claimed, as a holder in due course, to be free from the defense of failure of consideration. When the plaintiff acquired the note it was physically attached to a conditional sales contract by the terms of which the payee was to furnish the maker with an oil burner which in truth was never furnished, this being the claimed failure of consideration. Breach of the sales contract apparently took place after the plaintiff acquired the note. Held, plaintiff, having knowledge of the terms of the contract, was not a holder in …
Specific Performance-Failure Of Vendor's Title
Specific Performance-Failure Of Vendor's Title
Michigan Law Review
The defendant leased his ice plant to the plaintiff with an option to purchase at a certain price and to pay an additional $50 in ice at the market price for the "east 15 ft. of lot 4." The plaintiff exercised the option and performed all the conditions. The defendant failed to execute a deed to the "east 15 ft. of lot 4," claiming that he did not own it, although he had accepted part of the purchase price for the parceI not owned and it was necessary for the operation of the ice plant. In an action for specific …