Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 3 of 3
Full-Text Articles in Contracts
Vendor And Purchaser-Vendor's Release Of Sub-Assignee Held A Discharge Of All Prior Assignees, Robert M. Warren
Vendor And Purchaser-Vendor's Release Of Sub-Assignee Held A Discharge Of All Prior Assignees, Robert M. Warren
Michigan Law Review
The bank for which plaintiff is receiver sold land on contract. There followed four successive assignments of the vendee's interest, in each of which the assignee expressly assumed the contract obligation. After the fourth assignment, default occurred as to payments and taxes, and plaintiff began negotiations to sell the property to an intermediate assignee, R. To effectuate this sale, plaintiff procured an assignment in blank from the fourth assignee, W, in consideration of a release of W from further liability on the contract. The negotiations with R having failed, plaintiff brought suit against the vendee and all the …
Contracts - Wills - Third Party Beneficiary Contract As Testamentary Disposition, Harold M. Street
Contracts - Wills - Third Party Beneficiary Contract As Testamentary Disposition, Harold M. Street
Michigan Law Review
The defendant executed a bond and mortgage to one Catherine McCarthy Jackman. Subsequently the parties entered into an extension agreement wherein it was provided that in the event of the death of the mortgagee prior to the .maturity of the mortgage, the interest and principal were to be paid one-half to a brother of the mortgagee and one-half to the heirs of a deceased sister. After the death of the mortgagee prior to the maturity of the mortgage, the plaintiffs (the brother and heirs of the deceased sister) claimed a right to the payment of interest as third party beneficiaries. …
Contracts - Illegality - Collateral Agreements Under Home Owners' Loan Act, Roy L. Steinheimer
Contracts - Illegality - Collateral Agreements Under Home Owners' Loan Act, Roy L. Steinheimer
Michigan Law Review
In transactions under the Home Owners' Loan Act it is customary for the holder of the mortgage on the property on which a new loan is sought to agree with the H. O. L. C. to accept in full settlement of his claim bonds of the H. O. L. C. of a face value often times less than the amount of the obligation secured by the old mortgage. However, not infrequently the mortgagee also exacts from the home owner a collateral agreement under which the home owner gives him a new second mortgage on the property as security for an …