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Articles 1 - 28 of 28
Full-Text Articles in Commercial Law
Rejection Versus Termination: A Sublessee's Rights In A Lease Rejected In A Bankruptcy Proceeding Under 11 U.S.C. § 365(D)(4), Vivek Sankaran
Rejection Versus Termination: A Sublessee's Rights In A Lease Rejected In A Bankruptcy Proceeding Under 11 U.S.C. § 365(D)(4), Vivek Sankaran
Michigan Law Review
When a party files for bankruptcy under chapter 11 of the United States Code, the court typically appoints a trustee to handle all of the party's financial obligations. The trustee's responsibilities include investigating the financial condition of the debtor, the operation of the business, the desirability of continuing the business, and any other matter relevant to the disposition of the bankrupt estate. If a bankrupt party holds a commercial lease, the trustee possesses two options for dealing with the lease. One option is to reject the lease, which ends the bankrupt party's obligation to adhere to the provisions of the …
Gilmore: Security Interests In Personal Property, Jerry P. Belknap
Gilmore: Security Interests In Personal Property, Jerry P. Belknap
Michigan Law Review
A Review of Security Interests in Personal Property 2 vols. By Grant Gilmore
The Corporate Mortgage Under Article 9 Of The Uniform Commercial Code And The New York Solution, George C. Coggins
The Corporate Mortgage Under Article 9 Of The Uniform Commercial Code And The New York Solution, George C. Coggins
Michigan Law Review
A corporate mortgage has been defined as "an indenture intended to convey property, real and personal, tangible and intangible, to a trustee for bondholders, as security for the bonds issued and to be issued thereunder" by a corporation. This financing device, utilized by many large corporate organizations, has grown to be of paramount importance in the field of corporate financing, and the lack of attention given by the Code to the long-term debts of corporations has raised serious questions of filing procedures. Discussion of the novel treatment accorded by New York to the problem of perfecting security interests in corporate …
Uniform Commercial Code Article 9 Filing Procedures For Railroad, Utility, And Other Corporate Debtors: Some Suggestions, Daniel R. Elliott Jr.
Uniform Commercial Code Article 9 Filing Procedures For Railroad, Utility, And Other Corporate Debtors: Some Suggestions, Daniel R. Elliott Jr.
Michigan Law Review
After a brief discussion of the provisions of Article 9 peculiarly applicable to the long-term mortgage, a portion of this comment will review the relevant statutes and case authority in force prior to the effective date of the Code in various states and still applicable in others. More specifically, it will examine the special treatment accorded certain types of corporate indentures, particularly those securing the debt of railroads and other public utilities. Second, an attempt will be made to explain the probable solutions to the problems raised by the filing requirements of Article 9 as promulgated in each jurisdiction and …
Bills And Notes - Holder In Due Course - Notice Of Infirmity In Instrument To Finance Company Closely Connected To Dealer, William G. Cloon, Jr. S.Ed.
Bills And Notes - Holder In Due Course - Notice Of Infirmity In Instrument To Finance Company Closely Connected To Dealer, William G. Cloon, Jr. S.Ed.
Michigan Law Review
The defendant purchased a car from a dealer who represented it to be a new demonstrator. In fact, the car was a used one. The defendant executed a negotiable note for the balance of the purchase price and a chattel mortgage on forms which were furnished the dealer by the plaintiff finance company. The dealer handled the paper, but the plaintiff was to finance the sale and the note was payable at the office of the plaintiff. Both the bill of sale and the chattel mortgage described the car as a new demonstrator. The note was indorsed in blank by …
Contracts-Doctrine Of "Commercial Frustration" As Applied To Leases Of Real Property, Margaret Groefsema S. Ed.
Contracts-Doctrine Of "Commercial Frustration" As Applied To Leases Of Real Property, Margaret Groefsema S. Ed.
Michigan Law Review
A mushroom crop of litigation has sprung up as a result of wartime governmental restrictions on production and consumption of civilian goods, particularly with respect to regulations of the sale of gasoline, tires, automobiles, and automobile accessories. Numerous problems have confronted the courts involving leases of property for the purpose of selling or servicing motor vehicles, where the lessee has sought to be released from his covenant to pay rent by invoking the so-called doctrine of "commercial frustration."
Fixtures - Conditional Sale-Mortgage- Rights Of Parties
Fixtures - Conditional Sale-Mortgage- Rights Of Parties
Michigan Law Review
The plaintiff, holding a real estate mortgage recorded before the defendant's notice of conditional sale, bought in the premises at the foreclosure sale. The defendant claimed plumbing and heating fixtures sold to the mortgagor on a contract of conditional sale, notice of which was properly recorded according to the statute. Held, the defendant's title to the fixtures was not protected as against the plaintiff by the recording under the Massachusetts statute. Waverley Cooperative Bank v. Haner (Mass. 1930) 173 N.E. 699.
Sales-Passage Of Title Before Payment Of Purchase Price
Sales-Passage Of Title Before Payment Of Purchase Price
Michigan Law Review
In January, S agreed to sell his business to the plaintiff, who went into possession, took over the lease, and operated the business. He did not have sufficient money to pay the purchase price at the time, and no bill of sale was given. A creditor of S took judgment on a promissory note made by S, of the existence of which note the plaintiff first became aware in February, and levied execution on the goods in the store. The plaintiff filed a claim of property. Held, that there was no sale at the time of the transfer of …
Recent Important Decisions, Michigan Law Review
Recent Important Decisions, Michigan Law Review
Michigan Law Review
No abstract provided.
Recent Important Decisions, Michigan Law Review
Recent Important Decisions, Michigan Law Review
Michigan Law Review
Admiralty - Workmen's Compensation - Is a Hydroplane a Vessel? - Claimant was employed in the care and management of a hydroplane which was moored in navigable waters. The hydroplane began to drag anchor and drift toward the beach, where it was in danger of being wrecked. Claimant waded into the water and was struck by the propeller. Held, claimant is not entitled to compensation under the Workmen's Compensation Law, since a hydroplane while on navigable waters is a vessel, and therefore the jurisdiction of the admiralty excludes that of the State Industrial Commission. Reinhardt v. Newport Flying Service Corp. …
Note And Comment, Albert V. Baumann Jr, Stannley E. Gifford, Donald F. Melhorn, Ralph W. Aigler
Note And Comment, Albert V. Baumann Jr, Stannley E. Gifford, Donald F. Melhorn, Ralph W. Aigler
Michigan Law Review
Interstate Commerce and State Control Over Foreign Corporations - Since Bank of Augusta v. Earle, 13 Pet. 519, there seems to have been no real occasion to doubt the power of a state totally to exclude foreign corporations seeking to engage in intrastate business only. The power to exclude being absolute, there has been no question as to the right of the state to allow the entrance of the foreign corporation for such business upon terms, and the terms may be of any sort, reasonable or unreasonable, except that the corporation seeking to enter cannot as a condition precedent to …
Note And Comment, Gordon Stoner, Grover C. Grismore, Stanley E. Gifford, Stuart S. Wall
Note And Comment, Gordon Stoner, Grover C. Grismore, Stanley E. Gifford, Stuart S. Wall
Michigan Law Review
What is a Public Purpose Justifying the Expenditure Therefore of Money Raised From Taxation - A recent Ohio case raises a question which is frequently discussed in connection with the activities of cities, i. e., 'what is a municipal or public purpose for the accomplishment of which city funds raised from taxation may be expended. The council of the city of Toledo passed an ordinance authorizing the expenditure of $1000 for the purpose of establishing a municipal moving-picture theater. The auditor refused to pay over to the director of public service the fund thus appropriated and mandamus was sought by …
Note And Comment, Edwin C. Goddard, Ralph W. Aigler, Robert L. Mayall, Charles A. Wagner, Hester E. Yntema
Note And Comment, Edwin C. Goddard, Ralph W. Aigler, Robert L. Mayall, Charles A. Wagner, Hester E. Yntema
Michigan Law Review
The Effect of the Carmack Amendment to the Hepburn Act Upon Limitation by Common Carrier of the Amount of their Liability - Two cases, decided by the Supreme Court of the United States on March 10, 1913, may be considered together. They are developments of the cases reviewed in II MICH. L. Rev. 460. Plaintiff shipped two boxes and a barrel of 'household goods" under an agreement that the goods, in case of loss, should be valued at $5 per hundred-weight. One box, weighing not over 200 pounds and actually worth $75, was lost. The Supreme Court of Arkansas affirmed …
Recent Important Decisions, Michigan Law Review
Recent Important Decisions, Michigan Law Review
Michigan Law Review
Adverse Possession--Possession of One Joint-Tenant as Possession of All; Bankruptcy--manner of Claiming Exemptions--Construction of Provisions Relating to Exemptions; Bankruptcy--Title to Property of Bankrupt After Adjudication and Before Election of Trustee; Bills and Notes--Agreement for Attorney Fee Void Under Negotiable Instruments Act; Champterty and Maintenance--Contract with attorney for Contingent Fee; Commerce--Carriers--Federal Employer's Liability Act Held Constitutional; Commerce--State Regulation--Intoxicating Liquors--Carrier's Refusal to Accept; Constitutional law--Equal Protection--Discrimination in License Tax; damages--Injuries to Growing Crops; Damages--liability of Corporation in Punitive Damages for Acts of Its Officers; Evidence--Carbon Copy Admissible as Duplicate Original; Evidence--Judicial Notice that Beer is an Intoxicating Liquor; Garnishment--Impeaching Affidavit--Dissolution; Infants--Torts--Breach of …
Recent Important Decisions, Michigan Law Review
Recent Important Decisions, Michigan Law Review
Michigan Law Review
Adverse Possession--Actual Possession--Occupation of Part; Banks and Banking--Payment of Deposits on Forged Checks--Liability--Affirmative Defense; Banks and Banking--Payment of Check--Forged Indorsements; Cancellation of Instrument for Want of Consideration--Stauts Quo; Charities--Charitable Gift--Validity; Commerce--Interstate Commerce--Continuous Shipment--Violation of Elkins Act; Constitutional Law--Power of Judicial Department--Infringement on Executive; Conversion--Return of Goods as Defense; Conveyancing--Grantee's Name Left Blank; Courts--State Courts--Jurisdiction over National Banks; Criminal Law--Harmless Error in Admission of Evidence; Equity--Subrogation of Mortgagor to Rights of Mortgagee; Evidence--Admissibility of Statements in Corroboration of Testimony of Discredited Witness; Evidence--Other Offenses as Evidence of Offense Charged; Fixtures--Between Vendor of Chattel and Mortgagee of Land; Husband and Wife--Action Against …
Note And Comment, Edson R. Sunderland, William W. Montgomery, H. Stanley Mccall, Charles L. Cunningham
Note And Comment, Edson R. Sunderland, William W. Montgomery, H. Stanley Mccall, Charles L. Cunningham
Michigan Law Review
The Passing of State Control over Railway Rates; Constitutionality of the New York Workmen's Compensation Act; Must a Passenger Go on the Same Train with His Baggage?; Implied Reservation of Easements; Extent of the City's Right, Under the Power of Eminent Domain, to Exemption from Liability for Consequential Damages Under the Rule of Damnum Absque Injuria;
Note And Comment, Clarence E. Eldridge, Ben H. Dewey, Mckee Robison
Note And Comment, Clarence E. Eldridge, Ben H. Dewey, Mckee Robison
Michigan Law Review
Limitation of the Amount of the Common Carrier's Liability--Hepburn Act; Surety's Right to Exoneration; Protection of Rights of Bona Fide Purchasers of Personal Property; The Time at Which a Political Aspirant Becomes a Candidate Within the Meaning of the Modern Primary Election Law; When are Letters Written by a Husband to His Wife Not Privileged?
Recent Important Decisions, Michigal Law Review
Recent Important Decisions, Michigal Law Review
Michigan Law Review
Appeal and Error--Attorney's Interest in Case on Appeal--Contingent Fee; Bankruptcy--discharge--subsequent Action for Fraud; Bills and Notes--Usury No Defense Against a bona Fide Holder--Construction of Negotiable Instruments Statute; Boundaries--Street, Terminus A Quo; Carriers--Hepbern Act--State and Federal Courts--Phrase "Caused by It"; Chattel Mortgages--Payment without Notice of Assignment--Construction of a Mortgage Provision; Constitutional Law--Equal Protection of Laws--Statute Requiring Screens on Cars Operated by Corporations; Constitutional Law--Equal Protection of the Laws--Class Legislation; Contracts--No Recovery Under an Entire Illegal Contract; Contracts--Validity of Contract in Contemplation of Divorce; Courts--Federal Courts--authority of Decision of State Courts--"Telegraph"; Covenants--Breach of that Against Incumbrances; Elections--Ballots--Indication of Choice by Voter; Evidence--Facts …
Recent Important Decisions, Michigan Law Review
Recent Important Decisions, Michigan Law Review
Michigan Law Review
Bankruptcy--Trustee's Right to Enforce Stockholder's Statutory Liability; Bills and Notes--Failure of Consideration--When Maker is Estopped From Pleading It; Bills and Notes--Instrument Payable After Death--Whether Valid Obligation or of a Testamentary Character; Carriers--Interstate and Intrastate Commerce; Carriers--Regulations Relative to Shipment of Live Stock; Constitutional Law--Equal Protection of Laws--Foreign Corporations--Statute Forfeiting Right to Do Business; Constitutional law--Police Power--Personal Liberty--Photographing Persons Charged With Crime; Contempt--Murder of Prisoner Pending His Appeal; Counties--Action by Taxpayer--Compensation of Attorney; Criminal Law--What Constitutes a Disorderly House; Damages--Allowance of Attorney's Fees--rule in Hadley v. Baxendale Applied; Eminent Domain--Taking or Damaging Property--Noise and Smoke From Operation of Railroad; Equity--Illegal Contract--Duty …
Recent Important Decisions, Michigan Law Review
Recent Important Decisions, Michigan Law Review
Michigan Law Review
Arson--Persons Liable--Husband or Wife; Bankruptcy--Exemptions--Homesteads; Carriers--Bill of Lading--Estoppel to Deny Receipt of Goods; Commerce--Carriers--State Regulation--Congressional Inaction; Constitutional Law--Interstate Commerce--Compelling Carrier to Share Facilities with Rival--Due Process of Law; Constitutional Law--Right to Engage in the Business of an Undertaker; Counties--Railway Aid Bonds--Conditions Precedent; Covenants--Power of Court of Equity to Compel Release of, as Cloud on Title; Divorce--alimony--Divorce Granted Against Wife; Eminent Domain--Appropriation of Property--Street Railway Addition Burden; Evidence--Admissibility of Confessions; Evidence--Hearsay Declarations of Pedigree; Execution--Sale--Inadequacy of Price--Setting Aside; Insurance--Exception in Fire Insurance Policy--"Cotton in Open Cars"; Insurance--Right to Sue on Indemnity Policy--Payment of Loss by Receiver's Note; Intoxicating Liquors--Illegal Sale--Ordinance--Validity; Intoxicating …
Note And Comment, Edward S. Rogers, Horace Lafayette Wilgus, Edward A. Macdonald, Floyd Olds, J. Fred Bingham, Michael F. Shannon, Sidney F. Duffey
Note And Comment, Edward S. Rogers, Horace Lafayette Wilgus, Edward A. Macdonald, Floyd Olds, J. Fred Bingham, Michael F. Shannon, Sidney F. Duffey
Michigan Law Review
The Doctrine of Unfair Trade; Valuing Property and Franchises of Public Service Corporations for Fixing Rates; Right of the Interstate Commerce Commission to Adduce Testimony; Rule in Shelley's Case controls Estate Created by Deed to Trustee; The Right of the Garnishee to Dispose of Goods in His Possession While the Litigation is Pending; The Police Power, Billboards and Sky Signs; How Far the Record of Voting Machines is Conclusive;
Recent Important Decisions, Michigan Law Review
Recent Important Decisions, Michigan Law Review
Michigan Law Review
Acknowledgement--Persons Entitled to Take--Officer and Stock-Holder of Corporation; Agency--Brokers--contract of Employment--Middleman--When Commissions are Earned; Bankruptcy--Discharge--Vacation; Bankruptcy--Jurisdiction--Summary Proceeding; Bills and Notes--Liability of Infant on note Given for Necessaries--Misrepresentation of Age; Carriers--Passenger's Signature to Excursion Ticket; Constitutional Law--Eleventh Amendment--Jurisdiction of Federal Circuit Court--Penalty for Disobeying Rate Legislation; Constitutional Law--State Taxation--Property in Transit; Corporations--Franchise and License Distinguished; Damages--Liquidated Damages--Discounts; Death by Wrongful Act--Statute--Construction--Death Outside the State--Right to Sue; Deeds--Adverse Possession--Color of Title; Evidence--Admissions in Pleadings; Evidence--Best Evidence; Evidence--Works on History as Evidence; Extortion--Indictment--Sufficiency; Imprisonment for Debt--Solitary Confinement; Injunction--Scope of Order Restraining Strike; Insane Persons--Conveyances--Avoidance--Ejectment; Insurance--Rescission of Contract--Action for--Interest of Beneficiaries; Interstate Commerce--Regulation of, …
Recent Important Decisions, Michigan Law Review
Recent Important Decisions, Michigan Law Review
Michigan Law Review
Bankruptcy--Assignment--Validity--Possession of Res.; Carriers--Assaults by Employees on Passengers; Constitutional Law--Judicial Powers--Legislative Action of City Council Not Enjoined; Constitutional Law--Privileges and Immunities; Constitutional Law--Taxation of Imports; Contracts--Accord and Satisfaction--Consideration; Corporations--Liability of Bondholders on "Bonus Stock"; Covenants--Creation by Acceptance of Deed Poll; Criminal Law--Habeas Corpus--Want of Jurisdiction; Damages--For Wrongful Cutting of Timber--Value of the Manufactured Lumber; Evidence--Admissions of a Tenant in Common; Evidence--Effect of Plaintiff's Refusal to Submit to Physical Examination; Equity--Laches; foreign Corporations--What Constitutes "doing Business" in the State--Restrictions on State in Case of Interstate Commerce; Injunction--Suspension of Operative Force Pending Appeal; Judgment--conclusiveness--Matters Concluded; Judgment--foreign Judgment--Enforcement; Landlord and Tenant--Trade Fixtures--Right of …
Recent Important Decisions, Michigan Law Review
Recent Important Decisions, Michigan Law Review
Michigan Law Review
Acknowledgement--Impeachment--Examination of Married Woman; Bankruptcy--Discharge--Libel; Bankruptcy--Selection of Trustee--Right of Creditors to Elect; Bills and Notes--Genuine Draft with Forged Bill of Lading; Bills and Notes--Release of Indorsers; Carriers--Refulsal to Give Transer--Passenger's Motive in Requesting; Covenants--covenant Against Incumbrances--Runs with the Land; Deeds--Parties--One Not Names as Grantor Signing; Elections--Corrupt Practices Act--who is a Candidate; elections--voting Machines--Statute Unconstitutional; Eminent Domain--Taking of railroad Right of Way for Street Purposes--Measure of Damages; Equity--maxims--application in Suit for Divorce on Statutory Grounds; Evidence--Opinion as to One's Physical Condition--Expert Testimony; Foreign Corporations--Right to do business in State can Become Vested; Foreign Corporations--Service of Process on--What Constitutes "Doing Business"; Foreign …
Recent Important Decisions, Michigan Law Review
Recent Important Decisions, Michigan Law Review
Michigan Law Review
Admiralty--Liability of Public Corporation for Tort; Bankruptcy--bills and Notes--discharge of Indorser; Bankruptcy--Title to Stock Held by Stockholders; Bills and Notes--Renewal of Void Note--Moral Obligation Not a Good Consideration; Bills and Notes--Renewal of Void Note--Moral Obligation Sufficient Consideration; Carriers--contributory Negligence--Protruding Arms of Passengers; Carriers--Contributory Negligence--Protruding Arms of Passengers; Constitutional law--foreign Corporations--Service of Summons on the Auditor of State--Due Process of Law; Contract to Devise--Parol Evidence to vary Consideration Expressed in a Deed; Corporations--application for Shares--Contracts; Easements--Way of Necessity--Relation of Parties; Equity--Jurisdiction--Bills of Peace; Executors and Administrators--Allowance to Surviving Children--Stepchildren; Garnishment--Proceeds form Sale of Homestead Exempt; Garnishment--Waiver of Defect in Writ; Homestead--conveyance--Joinder …
Recent Important Decisions, Michigan Law Reivew
Recent Important Decisions, Michigan Law Reivew
Michigan Law Review
Agency--Ratification--Action by Principal Based on His Own Ratification; Bailments--Negligence of Bailor and Bailee; Bills and Notes--Designation of Amount--Marginal Figures; Bills and Notes--Sufficiency of Plaintiff's Title; Bills and Notes--Rights of an Accommodation Maker; Carriers--Liability of Steamship Company for Loss of Passenger's Baggage; Common Carrers--Limitation of Liability by Special Contract--Exemption Includes Limitation; Constitutional Law--Game Laws; Constitutional Law--Habeas Corpus--Former Jeopardy; Contract for Sale of Realty--Rescission--Bringing Action not Sufficient Notice of Recission; Corporations--Foreign Corporations--Doing Business in the State--State Control--Taxation of Intra-State Business; Corporations--Illegal Payment of Dividends--Statuatory Liability of Directors--Discretion of Directors; Corporations--Ultra Vires Contract--Powers of Railroad Company--Estoppel; Criminal Law--Homicide--Threats by Deceased; Damages--Nursing by Husband …
Recent Important Decisions, Michigan Law Review
Recent Important Decisions, Michigan Law Review
Michigan Law Review
Adverse Possession--Boundaries--Mistake; Attachment--Fraudulent Conveyance--Damages for Breach of Promise of Marriage; Bailments--Liability of Private Carrier on a Special Contract; Bailments--Loss of Goods Resulting from Violation of Ordinance; Constitutional Law--Equal Protection of the Laws--Due Process--State's control of Fish and Game; Contributory Negligence--Passenger on Car Platform; Conveyance--Standing Timber--Recording--Bona Fide Purchaser; Deeds--Building Restrictions--Easements; Deeds--Rule in Shelley's Case; Equity--Mistake of Fact--Negligence; Evidence--Photograph--X-Ray; Executors and Administrators--Liability of Executrix to Account fo rTrust Estate Held by Her Testator; Foreign Corporations--Interstate Commerce; Garnishment--Situs of Debt; Gift-Parent and Child--Undue Influence--Presumption; Guardian and Ward--Filling of Blank After Execution; married Women--Separate Estate--Note and Mortgage to Secure Husband's Debt; Master and Servant--Independent …
Recent Important Decisions, Michigan Law Review
Recent Important Decisions, Michigan Law Review
Michigan Law Review
Agency--Action by Undisclosed Principal; Agency--Authority to Sell Land--Notice of Revocation by Record; Agency--Good Faith--Commissions; Bankruptcy--Intent of Insolvent; Carriers--Damages for Loss of Market--Carriage of Goods Destined for Enegies--Seizure of Ships; Constitutional Law--Cigarettes--Original Package; Constitutional Law--Municipal Corporations--Validity of Ordinance Requiring Union Label; Constitutional Law--Vested Rights--Alimony; Contract--Rescission as Affecting Rights of a Stranger to the Consideration; Contract--Public Policy--Agreement to ASsist Attorney to Secure Clients; Courts--contempt--Publication of Evidence in Newspapers; Criminal law--burglary--Sufficient Breaking; Criminal Law--Embezzlement; Damages--Exemplary--Parol License--Revocable--Trespass; Damages--Reversing Judgment for Defendant in Order to Give Plaintiff Nominal Damages; Deeds--Grantees--Constructions; Deeds--Reservation--Construction--Extent of Property; Deeds--Reservation--effectin Equity--Implied Trust; Fraudulent Conveyance--Who are Creditors--claimant in Tort Action; Highways--Street Car …