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Articles 1 - 16 of 16
Full-Text Articles in Law
Future Interests - Rule Against Perpetuities - Actual Rather Than Possible Facts As Determining Certainty Of Vesting, Paul B. Campbell S.Ed.
Future Interests - Rule Against Perpetuities - Actual Rather Than Possible Facts As Determining Certainty Of Vesting, Paul B. Campbell S.Ed.
Michigan Law Review
T died testate, leaving a life estate to her children A and B, with the remainder to granddaughter C. The will further provided that if other body heirs of A and B survived their deaths, then such heirs should share equally with C; and if all the grandchildren should die without leaving heirs of their body, then the property was to pass to T's brothers and sisters or their representatives. A and B survived but T died without further issue. Later C also died without issue. X held conveyances deeding to him the interests of the …
Is The Rule Against Perpetuities Doomed?, Lewis M. Simes
Is The Rule Against Perpetuities Doomed?, Lewis M. Simes
Michigan Law Review
Few rules of the common law have shown such amazing vitality as the rule against perpetuities. Emerging in the Duke of Norfolk's Case in 1682, as a rule to restrict unbarrable entails in land, it is now applied, not only to interests in land, legal and equitable, but also to personal estate, tangible and intangible, including beneficial interests in trusts. It is regarded as a part of the common law of nearly every English speaking country, except a few of the United States where statutory substitutes have been provided. Since 1930, statutory substitutes have been abolished and there has been …
Wills - Enforcement Of Parol Contract To Devise Real Property, John S. Slavens S.Ed.
Wills - Enforcement Of Parol Contract To Devise Real Property, John S. Slavens S.Ed.
Michigan Law Review
Plaintiffs and decedent made an oral agreement whereby plaintiffs agreed to pay decedent a yearly sum and to make repairs on certain real estate in return for which decedent agreed to devise the real estate to plaintiffs. Plaintiffs had been in possession of the property for several years and had vastly improved its value when decedent died, devising the property to third parties. Plaintiffs brought this action for specific performance against the devisees. The trial court, satisfied that the oral contract had been established, entered the decree for specific performance. On appeal, held, affirmed. A person can make a …
Advancements: Ii, Harold I. Elbert
Advancements: Ii, Harold I. Elbert
Michigan Law Review
A voluntary inter vivos transfer by a parent to a child is not an advancement so long as the transferor lives. The purpose of the doctrine is to equalize an intestate' s property among his children. It is auxiliary to the distribution of his estate that the question of advancement is raised. The death of the transferor is not enough to give rise to the doctrine. The person seeking to charge the intestate's heirs with an advancement must prove several additional facts. The legislation of each state determines what must be proved in order to charge the transferee with an …
Sales - Uniform Trust Receipts Act - Strict Requirement Of Accuracy In Designating Trustee In Filing Under The Act, John W. Hupp S.Ed.
Sales - Uniform Trust Receipts Act - Strict Requirement Of Accuracy In Designating Trustee In Filing Under The Act, John W. Hupp S.Ed.
Michigan Law Review
Plaintiff and E. R. Millen Co., Inc., entered into a financing arrangement whereby plaintiff agreed to finance the wholesale purchase of various types of electrical appliances by E. R. Millen Co., Inc. Plaintiff promptly recorded a statement of trust receipt financing setting forth that the plaintiff "is or expects to be engaged in financing under trust receipt transactions the acquisitions by the trustee, E. R. Millen Company." The statement then designated the trustee's business address. This trust receipts arrangement was in operation for about a year when E. R. Millen Co., Inc., made a general assignment of all of its …
Securities - Application Of Antideficiency Judgment Statute To Second Purchase Money Trust Deed Where Security Is Exhausted By Foreclosure Of First Deed, John Houck S.Ed.
Securities - Application Of Antideficiency Judgment Statute To Second Purchase Money Trust Deed Where Security Is Exhausted By Foreclosure Of First Deed, John Houck S.Ed.
Michigan Law Review
To secure the purchase price of land, defendant executed a promissory note and first deed of trust in favor of a savings and loan association, and a second note and deed in favor of plaintiff-vendor. On default of both obligations, the savings and loan association foreclosed upon the land. The resulting sale completely exhausted the security, and plaintiff brought the present action upon his note. Defendant interposed section 580b of the California Code of Civil Procedure, which specifies that "no deficiency judgment shall lie in any event after any sale of real property for failure of the purchaser to complete …
Notes, Michigan Law Review
Notes, Michigan Law Review
Michigan Law Review
The information given in the notes is derived from inspection of the books, publishers' literature, and the ordinary library sources.
Taxation-Federal Estate Tax-Taxability Of Joint And Survivor Annuity Paid Pursuant To Pension Plan, Lawrence M. De Vore S.Ed.
Taxation-Federal Estate Tax-Taxability Of Joint And Survivor Annuity Paid Pursuant To Pension Plan, Lawrence M. De Vore S.Ed.
Michigan Law Review
Under a pension and retirement plan, decedent had the option of receiving a pension for life or a smaller pension while both he and his wife lived, with two-thirds of such reduced pension payable to the survivor for life. On decedent's normal retirement date he chose the latter. Decedent did not retire but continued working until his death. His wife was then entitled to receive a monthly income for life under the pension plan. The Commissioner of Internal Revenue determined that the value of the wife's annuity should be included in the decedent's gross estate. Plaintiff instituted action for refund …
Trusts-Creation-Significance Of Creation Of Honorary Trust By Inter Vivos Transfer, John W. Hupp S.Ed.
Trusts-Creation-Significance Of Creation Of Honorary Trust By Inter Vivos Transfer, John W. Hupp S.Ed.
Michigan Law Review
Settlor made an inter vivos transfer of certain property in trust for a specified period with directions that the trustees should, in accordance with their own discretion, apply the income of the trust fund toward all or any of several specified purposes. These purposes included the "establishment ... of good understanding, sympathy and co-operation between nations," "the preservation of the independence and integrity of newspapers," and "the protection of newspapers ... from being absorbed or controlled by combines." Summons was taken out by the settlor to have the validity of the trusts determined. Held, the trusts were void because …
Rights Accruing To A Husband Upon Marriage With Respect To The Property Of His Wife, James W. Day
Rights Accruing To A Husband Upon Marriage With Respect To The Property Of His Wife, James W. Day
Michigan Law Review
Attention is directed in this article to the principles of the common law and the features of the subsequent developments that are believed to be of greatest current value either because the particular doctrine still persists or because it aids in the evaluation of a precedent for use in a legal background that differs from that of the period or jurisdiction in which the decision was rendered.
Future Interests-Powers Of Appointment-Exclusive And Nonexclusive Powers And The Doctrine Of Illusory Appointments, John Houck S.Ed
Future Interests-Powers Of Appointment-Exclusive And Nonexclusive Powers And The Doctrine Of Illusory Appointments, John Houck S.Ed
Michigan Law Review
Testatrix, after making certain specific bequests, devised the residue of her estate to her son George for life. The will stated that upon the death of George, the property should pass to his widow and descendants, "provided, however, that [George] may devise his interest to his widow, his descendants or my descendants." The will further provided that if George should die leaving no widow or descendants, and without having made a testamentary disposition, the property was to pass one-half to George's brother and his descendants, and one-half to a sister. George died without having married and left a will which …
Obtaining The Gift Tax Exclusion On Gifts In Trust: Drafting And Legislative Suggestions, Zolman Cavitch
Obtaining The Gift Tax Exclusion On Gifts In Trust: Drafting And Legislative Suggestions, Zolman Cavitch
Michigan Law Review
The purposes of this article are to outline the "future interest" pitfalls in the use of various conventional trust provisions, to explore remedial drafting possibilities even under the present law, and to suggest a statutory amendment which will eliminate the fundamental defects of the present poorly-drafted law.
Advancements: I, Harold I. Elbert
Advancements: I, Harold I. Elbert
Michigan Law Review
The purpose of this monograph is to consider the afore-mentioned topics and other questions inherent in the doctrine of advancements. Different interpretations in the various states will be discussed. The principal objectives of the work are to make a comparative study of advancement legislation and to state the law as it actually exists as a basis for determining whether it can be improved.
Real Property-Construction Of Deeds-Effect Of Phrase "And/Or Survivor" Following Names Of Grantees, Gene E. Overbeck S.Ed.
Real Property-Construction Of Deeds-Effect Of Phrase "And/Or Survivor" Following Names Of Grantees, Gene E. Overbeck S.Ed.
Michigan Law Review
The receiver of a bank deeded land "to Alfred Carothers and Delarma Hackett, or survivor." Plaintiff, Hackett's grantee, brought an action for construction of the deed. On appeal, held, the deed conveyed a moiety to each for life with remainder to the survivor in fee, and neither grantee, by a conveyance during his lifetime, could cut off the contingent remainder. Rowerdink v. Carothers, 334 Mich. 454, 54 N.W. (2d) 715 (1952).
Retroactive Legislation Affecting Interests In Land, John Scurlock
Retroactive Legislation Affecting Interests In Land, John Scurlock
Michigan Legal Studies Series
Professor Scurlock's monograph covers an area of the law which is commonly by-passed in treatises and in classroom instruction. If we could merely tear Maitland's "seamless web" of the law and retain all the shreds, no part of the legal system would escape us. What we actually do, however, is to set up, in a more or less arbitrary fashion, numerous centers of legal classification, such as contracts, torts, property and constitutional law, to which closely related legal materials are attracted as to a magnet. But those legal materials which stand midway between two centers of attraction are likely to …
The Cy Pres Doctrine And Changing Philosophies, Edith L. Fisch
The Cy Pres Doctrine And Changing Philosophies, Edith L. Fisch
Michigan Law Review
The cy pres doctrine arose so far back in antiquity that its origins are obscure. Apparently it was known and used in Roman law, for an application of the cy pres doctrine is reported in the Digest of Justinian. In the early part of the third century a city received a legacy bequeathed for the purpose of commemorating the memory of the donor by using the income of the legacy to hold yearly games. As such games were illegal at that time a problem arose concerning the disposition of the legacy. Modestinus, a well known jurist, found the solution.