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Full-Text Articles in Law
Quasi-Contracts - Statute Of Frauds - Right To Restitution Of Money Paid On Oral Land Contract
Quasi-Contracts - Statute Of Frauds - Right To Restitution Of Money Paid On Oral Land Contract
Michigan Law Review
Plaintiff paid $1,000 on an oral agreement for the purchase of land. Defendant admitted receipt of the money but alleged he was ready, able, and willing to comply with the terms of the agreement and convey the land. Held, that since the contract was void under the statute of frauds, plaintiff might recover. Reedy v. Ebsen, (S. D. 1932) 242 N. W. 592.
Trusts - Compromise Agreement As Means Of Terminating Testamentary Spendthrift Trust
Trusts - Compromise Agreement As Means Of Terminating Testamentary Spendthrift Trust
Michigan Law Review
In Rose v. Southern Michigan National Bank, the Michigan Supreme Court refused to terminate a spendthrift trust composed of both real and personal property, although to end litigation upon the will all the parties in interest had signed a compromise agreement to terminate the trust according to the Michigan statute. There was no objection as to the fairness of the agreement, upon which ground the court might have refused to sanction the compromise under the statute. The decision seems to have been based upon the theory that to give effect to the compromise agreement would defeat the purpose of …
Non-Assignment Provisions In Land Contracts, Edwin C. Goddard
Non-Assignment Provisions In Land Contracts, Edwin C. Goddard
Michigan Law Review
Many a sale of real estate is made to a purchaser who lacks the ready cash to pay the price. A deed of conveyance may be given with a mortgage back for the unpaid portion of the purchase price. But more and more in recent years the vendor has given a contract to convey conditioned upon the making of periodical payments of stipulated amounts, a deed to be given when the whole or a stated portion of the purchase price has been paid. The initial payment may be very small, and not infrequently the periodic payments are little more than …
Receivers - Extraterritorial Powers
Receivers - Extraterritorial Powers
Michigan Law Review
In these days of financial stress, the question of the extraterritorial powers of a receiver becomes especially acute. Though to the business man state lines have lost their significance, the lawyer is still confronted with independent sovereignties, both federal and state, each jealously safeguarding its own particular province. Receivers, appointed for an insolvent corporation or for a judgment debtor, seek to recover assets situated in foreign jurisdictions. Economy and expediency dictate the prevention of a dismemberment of the estates and the saving of expensive ancillary receiverships by a personal pursual on the part of the home receivers of those outlying …
Future Interests - Devise Of Life Estate With Superadded Power To Sell Fee
Future Interests - Devise Of Life Estate With Superadded Power To Sell Fee
Michigan Law Review
Testator gave his wife a life estate and added, "and I further empower her to sell any and all of either my personal real or mixed estate whenever she may think it to her interest to do so," with a limitation over to his son of whatever property remained of his estate at the time of the widow's death or remarriage. The widow conveyed the estate in fee to her daughter for valuable consideration. On the widow's death the son, as remainderman, brought ejectment against the daughter. Held, that the action did not lie since the widow had been …
Transfer Of Future Interests, W. Lewis Roberts
Transfer Of Future Interests, W. Lewis Roberts
Michigan Law Review
In considering to what extent future interests are transferable in this country it is proposed to limit the investigation to those future interests known as contingent remainders, executory devises, and defeasible vested remainders. It has not been deemed necessary to consider vested remainders as they have long been treated by the law in much the same way as present estates have been as far as alienation is concerned.