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Full-Text Articles in Law
Corporations-Purchase Of Notes And Mortgages As "Doing Business"
Corporations-Purchase Of Notes And Mortgages As "Doing Business"
Michigan Law Review
C was engaged in loaning money in Idaho. He sold many of the notes and mortgages which he thus received to the plaintiff, a foreign corporation. It was his practice, nevertheless, to collect the interest on these notes and remit it to the plaintiff. The actual sales of the notes and mortgages occurred in Chicago. In this manner the plaintiff acquired the note of the defendant, a resident of Idaho and his mortgage on Idaho land. The Idaho statute forbids a foreign corporation "doing business" in the State to sue in its courts without taking certain qualifying steps. The plaintiff, …
Constitutional Law - Moratory Legislation
Constitutional Law - Moratory Legislation
Michigan Law Review
A Minnesota statute, in view of the economic emergency, provided, among other things, that courts might, upon petition of a mortgagor, extend the period of redemption from mortgage foreclosure sales for a definite time not beyond May 1, 1935. If a court took such action, the mortgagor was to remain in possession of the premises and pay a reasonable rental to the mortgagee. Held, by the United States Supreme Court in a five-to-four decision, that this statute did not violate the contracts, or due process, or equal protection clauses of the Constitution. Home Building and Loan Association v. Blaisdell …
Fixtures - Rights Of Conditional Vendors Against Mortgagees Of Realty
Fixtures - Rights Of Conditional Vendors Against Mortgagees Of Realty
Michigan Law Review
Plaintiff sought to foreclose a mortgage with an after-acquired property clause on an industrial plant in which were installed various pieces of machinery sold by the defendant vendors under a conditional sale to the mortgagor after the execution of the realty mortgage. The machinery was so attached as to become fixtures and was evidently necessary to the continuance of the enterprise, but was removable without damage to the building as it stood before the machinery was installed. It was held that the conditional vendors could remove the machinery. People's Savings & Trust Co. v. Munsert, (Wis. 1933) 249 N. …