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Effects Of Inflation On Private Contracts: Germany, 1914-1924, John P. Dawson
Effects Of Inflation On Private Contracts: Germany, 1914-1924, John P. Dawson
Michigan Law Review
The German experience with inflation is unique not only in the magnitude of the ultimate disaster but in the wealth and variety of the record which it left behind. From that experience we may still learn much. The problems presented at successive stages of the German inflation differ in degree but not in kind from those which appear in any major shift in the general level of prices. The devices, legal and economic, for restoring an equilibrium thus destroyed must be essentially the same in any great country organized, as Germany was, for specialized, large-scale production. From a study of …
Banks And Banking - Bank Collection Code - Preference For Certified Check On Drawee Bank's Insolvency
Michigan Law Review
The petitioner accompanied a bid on construction work with two certified checks drawn on the M Bank and payable to the government. On rejection of the bid the checks were returned, but in the meantime the drawee bank had been closed. The petitioner presented the checks to the receiver of the defunct bank who refused to honor them as preferred claims. An Illinois statute provided that when a bank has presented to it for payment an item drawn upon such bank, and such bank shall fail after having charged such item to the account of the drawer but without having …
Bankruptcy - Fraudulent Transfers -Trustee's Assignee
Bankruptcy - Fraudulent Transfers -Trustee's Assignee
Michigan Law Review
Since bankruptcy proceedings contemplate a sale of the debtor's assets, the importance of knowing what the trustee may sell is at once obvious. One must, however, go further and inquire as to the rights of purchasers from the trustee. This question assumes importance to the trustee, since it determines what he may sell, and is also important to the purchaser, since it determines what he may buy. The answer determines the efficiency of our bankruptcy machinery. In this comment we propose to consider one phase of this general question: May the trustee assign his right to set aside a fraudulent …
Constitutional Law - Force And Effect Of Clauses Providing For Payment Of Private Indebtedness In Gold
Michigan Law Review
Certain Belgium company bonds were issued providing for payment of interest "in sterling in gold coin of the United Kingdom of or equal to the weight and fineness existing on September 1, 1928." After England had left the gold: standard the issuing company sought to make interest payments in depreciated pounds. Plaintiff bondholder sought to enforce payment of sufficient depreciated currency to enable him to purchase on the day of payment gold in the same quantity as he would have received had payment been due September 1, 1928. The English House of Lords held for plaintiff, reversing the decision of …