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Articles 1 - 21 of 21
Full-Text Articles in Law
Bills And Notes - Acceleration Clause As Affecting Negotiability
Bills And Notes - Acceleration Clause As Affecting Negotiability
Michigan Law Review
Defendant was sued on a note containing, among other acceleration clauses, a provision that if any holder deemed himself insecure at any time, the note should become immediately due and payable. Appealing from a summary judgment against him, the defendant contended that the instrument was nonnegotiable. Held, the acceleration provisions in the instrument did not destroy its negotiability. Dart National Bank v. Burton, 258 Mich. 283, 241 N. W. 858 (1932).
The Declaratory Judgment As An Exclusive Or Alternative Remedy, Edwin M. Borchard
The Declaratory Judgment As An Exclusive Or Alternative Remedy, Edwin M. Borchard
Michigan Law Review
In a recent Michigan case the seller of a boiler, claiming a chattel mortgage therein for the unpaid purchase price, brought an action against the person who had bought the boiler at a bankruptcy sale of the property of the original buyer for a declaration that the plaintiff had the right to possession, or in the alternative, that the defendant was under a duty to pay the balance of the original purchase price. The defendant claimed to be the owner free of the mortgage. A majority of the Michigan Supreme Court, on its own motion, for the propriety of the …
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 …
Vendor And Purchaser-Right Of Purchaser To Exoneration As To A Prior Vendor's Lien
Vendor And Purchaser-Right Of Purchaser To Exoneration As To A Prior Vendor's Lien
Michigan Law Review
The case of McClure v. Southfield Woods Corporation, decided by the Michigan supreme court last year, raised an interesting question as to whether a contract vendee of land which is included in a tract subject to a pre-existing vendor's lien has a right of exoneration against his vendor as to such incumbrance. The plaintiff in that case had sold land to the Southfield Woods Corporation by a contract which provided for joinder of the vendor and vendee in a subdivision plat and for release of any lots from the vendor's lien upon payment of a stipulated sum, in addition …
Banks And Banking - Preferred Claims Of Savings Depositors - Set-Offs
Banks And Banking - Preferred Claims Of Savings Depositors - Set-Offs
Michigan Law Review
Members of the Michigan bar who have had to deal with perplexing receivership problems, growing out of the many recent bank failures, should welcome the case of Reichert v. Farmers & Workingmens Savings Bank, 257 Mich. 500, decided April 4, 1932. It involves twelve important questions in banking law, certified from the Jackson circuit court. The answers of the supreme court to these questions should serve to settle the law for the benefit of receivers and their counsel for years to come.
Mortgages -Assignment In Good Faith After Maturity Cuts Off Prior Latent Equities
Mortgages -Assignment In Good Faith After Maturity Cuts Off Prior Latent Equities
Michigan Law Review
M executed a negotiable note payable to the order of P, secured by a mortgage. After maturity, P assigned the note and mortgage without his indorsement to X for value. Y procured an assignment of these from X by fraud and in turn assigned them to Z, a purchaser without notice and for value. In Z's suit to foreclose the mortgage, X intervened, demanding the delivery of the same to himself. Held, Z's bona fide purchase cut off X's latent equity. Frank v. Brown, 255 Mich. 415, 238 N. W. 237 (1931).
Railroads-Right To Drill For Oil Or Gas On Right Of Way
Railroads-Right To Drill For Oil Or Gas On Right Of Way
Michigan Law Review
A railroad had acquired a one-hundred-foot strip of land through a farm, the deed describing the land granted by metes and bounds, and "for railroad purposes only." For fifty years the defendant has continuously used the strip for railroad purposes. The plaintiff, who became owner of the farm and successor to whatever rights in the strip remained to his grantor, sought to enjoin the defendant from drilling for oil and gas in the strip. Held, that the railroad had purchased a fee simple absolute in the strip and was therefore entitled to develop its own minerals. Quinn v. Pere …
Private Carriers - Contracts Limiting Liability For Negligence
Private Carriers - Contracts Limiting Liability For Negligence
Michigan Law Review
Defendant contracted to haul cars belonging to a circus under a stipulation that it was not to be liable for injury or damage resulting from the negligence of its employees. Plaintiff, who had made an employment contract with the circus, releasing them and the defendant from liability for injury to him, was injured in a collision caused by the negligence of the defendant's servant. Held, the defendant could not contract against liability for injury caused by its wilful and wanton negligence and was therefore liable. Sabol v. Chicago & N. W. Ry. (Mich. 1931) 238 N. W. 281.
Corporations - Right Of Pledgee Of Stock To Dividends Under The Uniform Stock Transfer Act
Corporations - Right Of Pledgee Of Stock To Dividends Under The Uniform Stock Transfer Act
Michigan Law Review
The plaintiff was the pledgee of stock in the defendant corporation, the record title to the stock still being held in the name of the pledgor. The defendant, without notice of this assignment, voluntarily liquidated, giving the record holder a check both for the normal dividend on the stock, which had not been paid for the current year, and for his supposed interest in the distribution of the capital assets. This action was instituted by the pledgee to make the defendant account for the money paid over to the pledgor. The applicable statute is section 3 of the Uniform Stock …
Trusts - Tracing Of Assets - Preference
Trusts - Tracing Of Assets - Preference
Michigan Law Review
Public funds were unlawfully deposited in the insolvent bank. At the time the bank closed the cash in its own vault was less than the amount of public funds deposited but it did have, at the time of closing and at all times before, deposits in correspondent banks which, taken with the cash in its own vault, exceeded the amount of the public funds unlawfully deposited. Held, that the unlawful deposit of the public funds, the bank knowing them to be public funds, created a trust of those funds in the hands of the bank, which trust was impressed …
Mortgages - Foreclosure - Right To Receiver Of Rents And Profits
Mortgages - Foreclosure - Right To Receiver Of Rents And Profits
Michigan Law Review
The plaintiff held a large mortgage on apartment property. Upon default in the payment of principal, interest, and taxes a bill of foreclosure was filed against the mortgagor and her grantees who had taken subject to the mortgage. A clause in the mortgage authorized the appointment of a receiver to collect the rents and profits upon default. After hearing, the mortgagee was appointed receiver on the theory that non-payment of taxes constituted waste. Held, that the appointment was unauthorized. Union Guardian Trust Co. v. Rau, 255 Mich. 324, 238 N. W. 166 (1931).
Patents - Option Of The Court To Permit Contempt Proceedings Or To Require A New Suit
Patents - Option Of The Court To Permit Contempt Proceedings Or To Require A New Suit
Michigan Law Review
A final injunction was issued by the federal district court of Massachusetts against A, a Michigan corporation. The terms of the injunction were that A should not make, use, or sell lasts, or any colorable imitation thereof, embodying the invention covered by certain enumerated claims belonging to the present complainant. In a subsequent term of court the complainant alleged a violation of the injunction and brought contempt proceedings against A in the district court. The alleged infringement consisted in the manufacture and sale of a device which was slightly changed in form from that which the defendant had made prior …
Suretyship - Revocation By Death
Suretyship - Revocation By Death
Michigan Law Review
In consideration of a promise on the part of the vendor in a land contract to accept from the purchaser the first four installments of interest in the form of four notes, the decedent agreed in writing to indorse said notes and become responsible to the vendor for their payment. The surety died before the first of the notes was to be made and indorsed. A claim was made against the estate of the surety on this writing, the trial judge finding for the estate on the ground that there was no competent evidence from which damage might be determined; …
Wills - Pretermitted Heirs
Michigan Law Review
In an action based on section 1550 of the Compiled Laws of 1929 providing that a child omitted from the will of a parent shall share as in intestate succession unless it appears that such omission was intentional, the question arose as to whether this intent could be shown by extrinsic evidence. Held, such evidence is admissible. O'Neall v. Her, 254 Mich. 631, 236 N. W. 890 (1931).
Gifts Causa Mortis - Contemplation Of Suicide
Gifts Causa Mortis - Contemplation Of Suicide
Michigan Law Review
The testator, suffering from melancholia and contemplating suicide, purchased a certificate of stock in the name of his brother and caused it to be deposited in a bank by the latter. Over two months thereafter, the testator stated, in effect, that in the event of his death the certificate should become the brother's property. Held, in affirming the allowance of the final account of the executor, that the transfer of the certificate was a valid gift causa mortis. In re Van Wormer's Estate, 255 Mich. 399, 238 N.W. 210 (1931).
Presumptions - Constitutional Validity Of Statute Establishing Proof Of Reputation As Prima Facie Evidence Of Commission Of Crime
Michigan Law Review
The rise and sway of the gangster as a menace to American social and economic security has led, of late, to the employment of unique means of combating lawlessness. Faced by a tremendous increase in the difficulties lying in the path of those seeking the conviction of professional criminals for major crimes, the police and prosecutors often turn towards a means of fighting crime originally devised to make life uncomfortable for petty off enders. The enforcement of the pistol laws and the vagrancy statutes against millionaire gangsters, and repeated arrests on suspicion, have been resorted to as a means of …
Bailments - Parking Lots
Michigan Law Review
The defendant operated a parking lot in the business section of the city. There were two entrances and exits, the balance of the lot being enclosed by barriers. B parked his car on the lot, paying twenty-five cents and receiving a ticket which stated: "This ticket must be surrendered when car is taken from lot." Attendants were on duty at all times. It was the custom to leave all cars unlocked and at night to move them near a shack which was occupied by the attendants. The car was stolen, and in a suit against the defendant corporation it was …
Insurance - "Liability" Of "Indemnity" Contract - "No Action" Clause
Insurance - "Liability" Of "Indemnity" Contract - "No Action" Clause
Michigan Law Review
Plaintiff sued his insurer upon a policy which provided that the defendant would indemnify the insured against loss from liability for damages and would defend any suit brought against the assured to recover such damages. The policy contained a "no action" clause which denied a right of action unless a final judgment had been rendered and the assured had actually sustained a loss by payment of such judgment. Such a suit, brought against the plaintiff, had been unsuccessfully defended by the insurer. It was held that plaintiff could recover on the policy upon the rendition of the judgment and without …
Practice And Procedure - Demurrer To Evidence - Directing Verdict In Favor Of Party Having Burden Of Proof
Michigan Law Review
P purchased potatoes in Michigan. He instructed the defendant railroad to deliver the potatoes to the warehouse of B when they should arrive in Richmond. Instead, some were sent to another warehouse. Before P discovered the mistake, the potatoes spoiled. P made claim of loss six months and twenty days after the shipment left Michigan. The bill of lading provided that claims for loss or damage must be made in writing within six months after a reasonable time for delivery has elapsed. The testimony of Neiss, freight clerk, who was called by the defendant, was to the effect that eight …
Bills And Notes-Payee Of Note Is Holder In Due Course Unless Contrary Appears
Bills And Notes-Payee Of Note Is Holder In Due Course Unless Contrary Appears
Michigan Law Review
Defendant, who had jointly signed (ostensibly as maker) a note containing the words, "I promise to pay," was held not entitled to show by parol evidence that he was an accommodation indorser, under 2 MICH. COMP. LAWS 1929, secs. 9249, 9266 (N. I. L., sec. 17), and 9309 (N. I. L., sec. 60), the court saying, by way of dictum, that, in the absence of a contrary showing, the payee named in a promissory note payable to order is a holder in due course. Price v. Klett (Mich. 1931) 238 N.W. 253.
Evidence - Burden Of Proof - Compliance With Stipulation In Bill Of Lading As To Time For Claim Of Loss
Michigan Law Review
P purchased potatoes in Michigan. He instructed the defendant railroad to deliver the potatoes to the warehouse of B when they should arrive in Richmond. Instead, some were sent to another warehouse. Before P discovered the mistake, the potatoes had spoiled. P made claim of loss six months and twenty days after the shipment left Michigan. The bill of lading provided: "Sec. 2 (b). Claims for loss or damage . . . must be made in writing . . . within six months after a reasonable time for delivery has elapsed." The testimony of Neiss, freight clerk, who was called …