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Bankruptcy - Corporate Reorganization - "Good Faith" In Presenting Petitions For Reorganization Proceedings, Arthur P. Boynton
Bankruptcy - Corporate Reorganization - "Good Faith" In Presenting Petitions For Reorganization Proceedings, Arthur P. Boynton
Michigan Law Review
Reorganization proceedings for corporations are now provided for in chapter ten of the recently enacted Chandler Act, which supersedes the provisions of 77B. This legislation, designed to aid corporations which are insolvent or unable to meet their debts as they mature, is available to all commercial corporations except municipal, insurance, and banking corporations and railroad corporations authorized to file a petition under section 77 upon the proper showing. Sections 130 and 131 enumerate the necessary requirements of any petition filed for the purpose of obtaining reorganization. However, the most important prerequisite to this relief, from the standpoint of difficulty in …
Statute Of Frauds - Estoppel At Law As A Substitute For Part Performance In Equity, John M. Ulman
Statute Of Frauds - Estoppel At Law As A Substitute For Part Performance In Equity, John M. Ulman
Michigan Law Review
In 1930, plaintiff, as administratrix, mortgaged real estate to defendant. In 1933, plaintiff acquiesced in a foreclosure by defendant in pursuance of an oral agreement between the parties whereby it was understood that defendant would convey the land to plaintiff individually to hold for herself and others, plaintiff to give to defendant another mortgage for the same amount and to pay the costs. Defendant obtained title by foreclosure in March, 1934. Extensive repairs and improvements were made by plaintiff between September, 1934 and the spring of 1935. In October, 1934, defendant gave notice to plaintiff that it would not be …
Deeds - Covenant Of Warranty Limited By Exceptions In Another Covenant, Seward R. Stroud
Deeds - Covenant Of Warranty Limited By Exceptions In Another Covenant, Seward R. Stroud
Michigan Law Review
A mortgaged land to B and thereafter executed a second mortgage on the same land to C. In the second mortgage, A covenanted that "they are seized of good and perfect title . . . in fee simple and that the title so conveyed is clear, free and unincumbered except . . . (the Hixton Bank mortgage) [mortgage to B] and that they will forever warrant and defend the same . . . against all claims whatsoever." The first mortgage to B was foreclosed, and B purchased at the foreclosure sale. B sold the land to A, …