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Full-Text Articles in Housing Law
Banks And Banking- Housing And Home Finance - Scope Of Insurance Coverage Of Banks Under National Housing Act, Robert L. Mclaughlin
Banks And Banking- Housing And Home Finance - Scope Of Insurance Coverage Of Banks Under National Housing Act, Robert L. Mclaughlin
Michigan Law Review
Borrower executed a promissory note to dealer payee, who assigned it to defendant bank. After default by borrower, plaintiff United States paid to defendant the unpaid balance in accordance with the terms of their insurance contract under Title I of the National Housing Act. The note was then transferred to plaintiff for collection. In an action by the United States against the borrower for the amount due, it was held that the note could not be enforced because of fraudulent misrepresentation by the dealer in acquiring the note, of which the insured bank and transferee government had constructive knowledge. Plaintiff …
Recent Important Decisions
Michigan Law Review
Banks and Banking - Right to Set-off Deposit Against Debt Due Bank - L. Bank set off a matured debt due to it by a depositor against the amount due by the bank to the depositor, all of which was done after the death of the depositor and after appraisers appointed to set apart a year's support to his widow had made a return, setting apart the amount due by the bank to the decedent. Held, that the bank exercised its right of setoff too late, Luthersville Banking Co. v. Hopkins (Ga. 1913) 77 S. R: 589.