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Articles 1 - 22 of 22
Full-Text Articles in Estates and Trusts
Punitive Surcharges Against Disloyal Fiduciaries--Is Rothko Right?, Richard V. Wellman
Punitive Surcharges Against Disloyal Fiduciaries--Is Rothko Right?, Richard V. Wellman
Michigan Law Review
This Article criticizes the award of a penalty surcharge in the name of appreciation damages. Contrary to the statements in the Rothko opinions, neither precedent nor treatises offers clear support for the shocking awards made against Rothko's disloyal executors. Furthermore, even if appreciation damages were to be viewed, against the thesis here advanced, as an appropriate remedy for some kinds of fiduciary breach, the measure is inappropriate for cases which, like Rothko, involve hidden conflicts of interest. This is so because the threat of severe penalties in hidden-conflict cases adds unacceptable legal costs to honest administrations-costs that cannot be …
Toward Uniform Guardianship Legislation, William F. Fratcher
Toward Uniform Guardianship Legislation, William F. Fratcher
Michigan Law Review
The Model Probate Code, part IV of which covers guardianship of the persons and property of infants and mental incompetents, was published in 1946 under the auspices of the University of Michigan Law School. It was prepared for the Probate Law Division of the Section of Real Property, Probate, and Trust Law of the American Bar Association by its Model Probate Code Committee in cooperation with the research staff of the Law School. No state has adopted the Model Probate Code in its entirety, but parts of it have been enacted in Arkansas, California, Colorado, Delaware, Hawaii, Illinois, Indiana, Missouri, …
Fiduciary Aministration-Executors And Aministrators-Inventory Not A Condition Precedent To Recovery Of Assets, Carl S. Krueger S.Ed.
Fiduciary Aministration-Executors And Aministrators-Inventory Not A Condition Precedent To Recovery Of Assets, Carl S. Krueger S.Ed.
Michigan Law Review
In a suit by an administrator to recover funds claimed to be part of the decedent's estate, the defendant's answer alleged that the suit had been commenced prior to compliance with a statute requiring an inventory of the assets of the estate. On appeal by the administrator from the trial court's holding that filing an inventory of a claim is a condition precedent to a suit thereon, held, reversed. While an inventory is the basis of subsequent probate proceedings, title to personal assets of the decedent vests in the administrator when he qualifies, and he may sue on claims …
Soldiers And Sailors-Civil Relief Act Of 1940-Application To Decedents' Estates, Secured Obligations, Installment Contracts, Insurance, Taxes, And Assessments
Michigan Law Review
On October 17, 1940, the Soldiers' and Sailors' Civil Relief Act became effective. The discussions which follow, written by different authors, do not cover the entire act, but only the parts indicated by the various headings.
Trust Mortgages - Effect Of Foreclosure Of Subsequent Mortgage As Prior Lien Under Subordination Agreement Of Which Bondholders Had No Knowledge, Rex B. Martin
Michigan Law Review
Plaintiff held bonds secured by a trust mortgage. The trustee, Moore, without the consent of all the bondholders, had agreed to subordinate the trust mortgage to a subsequent mortgage. Defendant, the assignee of the subsequent mortgagee, foreclosed its mortgage as a prior lien. Moore was properly served but did not appear, as no bondholder agreed to pay the costs of the litigation. In the present suit to invalidate the subordinating agreement and reinstate the trust mortgage as the prior lien, held, the judgment in the foreclosure action determined the issue of priority and was conclusive against all the bondholders. …
Wills - Statute Of Nonclaim As Bar To Contingent Claim
Wills - Statute Of Nonclaim As Bar To Contingent Claim
Michigan Law Review
Plaintiff, the receiver of an insolvent state bank, filed a claim against the estate of deceased who had been a stockholder in the bank. The estate had been closed for twelve years when the claim was filed, the bank not having become insolvent until eight years after the decedent's death. The state constitution provided double liability for the stockholders of the bank to its creditors. Defendant urged that the claim was barred by the statute of nonclaim. Held, the claim is not barred, for the constitutional liability was not a "claim or demand, contingent or absolute," against the stockholder's …
Wills-Contract Not To Contest
Michigan Law Review
A testatrix left the bulk of her estate to the plaintiff whom she named as her executor. Defendant, dissatisfied with his bequest, threatened to contest the will. Thereupon, the parties entered into a contract whereby the plaintiff agreed to give the defendant a piece of land and a sum of money in addition to his legacy in consideration of defendant's promise not to contest the will. Shortly thereafter defendant joined relatives of the decedent in opposing probate. In an action in equity to specifically enforce the agreement, held, that the contract was valid and that the defendant be permanently …
Trust Receipts- Rights As Between The Parties
Trust Receipts- Rights As Between The Parties
Michigan Law Review
The defendant financed purchases of automobiles by plaintiff, a retail dealer, in the following manner. The manufacturer would send the bill of lading and draft on plaintiff to a bank acting as agent for defendant. The bank would advance the amount of the draft and deliver the bill of lading to plaintiff, taking a trust receipt on the cars. This trust receipt recited that defendant was the owner of the automobiles and might retake possession at any time. On breach of the agreement, defendant retook possession of the cars with plaintiff's consent and thereafter sold them without plaintiff's knowledge. Plaintiff …
Corporations-Validity Of Default Provisions In Trust Mortgages
Corporations-Validity Of Default Provisions In Trust Mortgages
Michigan Law Review
Ordinarily a secured creditor can take action to protect his claim against his debtor. When, however, the creditor is only one of many whose claims are equal in lien and right, it may be undesirable that any single creditor should be able to take independent action. This fact has led draftsmen to insert in corporate mortgages provisions limiting the rights of minority bondholders to take action in the event of default under the mortgage. The use of such provisions has created an apparent hotbed of judicial dissension.
Bills And Notes - Authority To Fill In Blanks - Effect Of Death Of Maker
Bills And Notes - Authority To Fill In Blanks - Effect Of Death Of Maker
Michigan Law Review
H gave W his note in blank with authority to fill it in at $50,000 when she wished, the note representing W's interest in their joint property. W filled in the blanks after H's death and sued H's estate on the note. Held, the authority to fill in was not revoked by H's death, for it was a power coupled with an interest. In re Ferrara (N. J. 19 3 l) 156 Atl. 265.
Equity - Power To Rescind Conveyance For Fraud - Survival
Equity - Power To Rescind Conveyance For Fraud - Survival
Michigan Law Review
When a party has been induced by fraud to make a conveyance of real estate, he has a choice of remedies against the defrauding grantee. He may seek restitution of the land or its proceeds in equity or at law on a theory of rescission, or he may affirm the transaction and bring an action for the recovery of damages for the deceit. The actions being logically inconsistent, the granter is not allowed to proceed in both, and must elect whether he will have his property returned to him in specie on his restitution of the price received from the …
Trusts - Cancellation - Beneficiaries As Necessary Parties
Trusts - Cancellation - Beneficiaries As Necessary Parties
Michigan Law Review
The plaintiff deeded property to the defendants in trust, for herself for life and on her death to certain named persons. Plaintiff sued the defendants alone for revocation on the ground of fraud and duress. Held, the issue of fraud could not be tried in the absence of the living cestuis. McKnight v. Bank of N. Y. & Trust Co., 254 N. Y. 417, 173 N.E. 568.
Limitation Of Actions-Effect Of Fraudulent Concealment
Limitation Of Actions-Effect Of Fraudulent Concealment
Michigan Law Review
Plaintiff sued in equity for a money judgment on defendant's promissory notes. Defendant had fraudulently represented that her husband's estate was liable on these notes, inducing plaintiff to sue the estate and thus delay for more than six years in starting suit against defendant. Plaintiff had sued defendant at law on the notes, defendant had pleaded the statute of limitations, and plaintiff had discontinued. Held, that plaintiff could recover a money judgment in equity, since the remedy at law was barred by the statute of limitations. Dodds v. McColgan (N. Y. App. Div., 1930) 241 N. Y. S. 584.
Recent Important Decisions
Michigan Law Review
A collection of recent important court decisions.
Note And Comment, Joseph H. Drake, Frederick R. Shearer, Jack M. Hendrick, Peter Balkema, Wilson W. Mills
Note And Comment, Joseph H. Drake, Frederick R. Shearer, Jack M. Hendrick, Peter Balkema, Wilson W. Mills
Michigan Law Review
Pecote: A Bit of Legal Archaeology - -In the case of Pusey v. Pusey, I Vern. 273 (1684), the "bil was, that a -horn, which time out of mind had gone along with the plaintiff's estate, and was delivered, to his ancestors in ancient times to hold their land by, might be delivered to him; upon which horn was the inscription, viz. pecote this horn to hold huy thy land." The bill was demurred to in that the plaintiff did not by his bill pretend to be entitled to this horn, either as executor or devisee; nor had he in …
Recent Important Decisions, Michigan Law Review
Recent Important Decisions, Michigan Law Review
Michigan Law Review
Aliens - Right to Take Land by Descent - Loss of State's Right to Escheat; Bailment - Liability of Incidental Bailee; Bankruptcy - Preferences - Franchise Tax; Bankruptcy - Transfers Required to be Recorded - Preferences; Bills and Notes - Bona Fide Purchaser - Notice of Want of Power in Transferrer; Bills and Notes - Unrestricted Negotiability of Bills of Lading; Constitutional Law - Commerce Clause - Statute Relating to Interstate Carriers as Employers; Constitutional Law - Indeterminate Sentence Law; Courts - Rules of Property - Stare Decisis; Criminal Law - Exclusion of Public from Trials; Criminal Law - Impeachment …
Recent Important Decisions, Michigan Law Review
Recent Important Decisions, Michigan Law Review
Michigan Law Review
Attorney--disbarment for Malpractice; Bills and Notes--Certification of Check; Bills and Notes--consideration--Illegal Use of Proceeds--Sunday Contracts; Bills and Notes--Notice of Protest; Carrier--Invalid Ticket--Tender of Cash Fare--Ejection of Passenger; Common Carriers--Express Companies--Municipal Tax on Delivery of Intoxicating Liquors--Mandamus to Compel Transportation; Common Carriers--Limitation of Liability by Special Contract--Hand Baggage; Constitutional Law--Obligation of Contract; Constitutional law--Privileges of Citizens--Interstate Commerce--Peddler's License; Corporations--conflict of Laws--Liability of Stockholders in Company Formed to Trade in a Foreign Country--Implied Authority to Pledge Personal Credit of Shareholders Under Foreign Law; Covenants--Privity of Estate; Criminal Law--False Pretenses--Post payable Check; Criminal Law--Presumption from Identity of Names; Deeds--Capacity of Grantor as Compared …
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
Adoption--Inheritance by Representation; Adverse Possession--Effect of Former Judgment--Statute of Limitations; Adverse Possession--Statute of Limitations--Jurisdiction of the Department of the Interior; Concealed Property--Finder's Rights--Treasure Trove; constitutional Law--Eminent Domain--Taking Private Property for Private Use; Constitutional Law--Penalty for Breach of Labor contracts; Contract--Mutuality--Specific Performance; Corporations--contracts Between Corporations Having Common Shareholders and Officers--Suit in Name of Stockholder; Corporations--Liability of Officers--Negligent management--contracts Between Corporations Having Common Officers; Deed--Insane Person--Voidable Assignment; Ejectment--Impairment of Contract Obligation; Evidence--Confession--Admission; Evidence--Letters of Administration--How Far Evidence of Widowhood; Evidence--Personal Injury--Physical Examination of Plaintiff; Foreign Corporations--Business in Other States--License--Purpose of Incorporation--Evasion of State Laws; Fraud--Doctrine of Reasonable Inquiry; Guardian--Appointment--Jurisdiction--Sale of Ward's Lands; …
Recent Important Decisions, Michigan Law Review
Recent Important Decisions, Michigan Law Review
Michigan Law Review
Administrator--Appointment of, on Disappearance of Person; Agency--collection of Notes--Possession of the Instrument--Apparent Authority; Appeal--Right to Appeal After Satisfaction of Judgment; Attorney and Client--divorce Cases--contingent Fees--Prevention of Reconciliation; Attorneys--disbarment--Attacking Honesty of Judge; Bankruptcy--city Taxes--Priority; Carriers--Death by Wrongful Act--Stipulations Avoiding Liability for Negligence Toward free Passenger--Validity and Effect; Carriers--signed Ticket not the Contract; Constitutional Law--Class Legislation--Use of Flag for Advertising Purposes; Constitutional Law--Jurisdiction of Equity to Try Title to Office--Injunction; Contract--Validity--Conditions Attached to Goods--Purchase by Retail Trader from Wholesale Trader with Notice; corporations--forfeiture of Charter--Mandamus; Corporations--Garnishment of Stockholder for Unpaid Subscription; Criminal Law--Self-Defense; Deeds--Delivery--Testamentary Disposition; Ejectment--Description--Verdict--Judgment; Ejectment--Equitable Title in Plaintiff; Evidence--Admissions--Abandoned Pleadings; …
Recent Important Decisions, Michigan Law Review
Recent Important Decisions, Michigan Law Review
Michigan Law Review
Acknowledgment--Who may Take--Stockholder; Action for Death of a Child-- Contributory Negligence; Adverse Possession--Computation of Time--Litigation in Land Office; Bankruptcy--Homestead--Jurisdiction of bankruptcy Court; Chattel Mortgages--Unidentified Number Among a Greater Number of Like Articles--Validity; Constitutional Law--Possession of Game fish in Closed Season; Constitutional Law--Special Act--Sunday Law; Contracts--Impossibility of Performance--Implied Condition; Contracts--Violation of Penal Statute--Transaction Void; corporations--Dissolution--Rights of Minority Stockholders; Corporations--Insolvency--Preferences to Officers; Equity--Jurisdiction--Partition--Oil Leases; Judgments--Absence of Jurisdiction--Injunction--Restraining Execution; Master and Servant--False Imprisonment--Duty of Merchant to Customers; Master and Servant--Fellow Servants--Assumed risks--Injuries to Servant While off Duty; Minor's enlistment in the Navy--Validity--Desertion--Arrest--habeas Corpus; Real Property--Rule in Shelley's Case--Wills; Specific Performance--Parol Contract--Part Performance; Suretyship--county …
Recent Important Decisions, Michigan Law Review
Recent Important Decisions, Michigan Law Review
Michigan Law Review
Agency--Authority to Appoint Sub-Agents; Agency--right to Compensation; Bankruptcy--Discharge; Bankruptcy--Discharge; Banks and Banking--Crediting Depositor--Check of Another Depositor; Conflict of Laws--Legitimation of a Bastard--Status Fixed by Domicile of his Parents; Conflict of Laws--Lex Loci Fori--Right of Action in England for Acts in Foreign Country--Territorial Waters; Constitutional Law--Summary Sale of Trespassing Animals; Contract--Public Policy--General Restraint of Trade; Contract--Validity--Release of Employer for Liability to next of Kin for Injury to Employee; Elections--Right of a Party Committee to Question Eligibility of a Candidate; Fraudulent Conveyances--Contingent Fees; Insurance--Condition for Immediate Notice--Excuse; Married Women--Power to Enter into Partnership with Husband--Set off of Debt Due by Partner in …