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Full-Text Articles in Law
Bills And Notes-Holders In Due Course-Effect Of Knowledge Of Executory Character Of Consideration
Bills And Notes-Holders In Due Course-Effect Of Knowledge Of Executory Character Of Consideration
Michigan Law Review
In an action on a promissory note the plaintiff claimed, as a holder in due course, to be free from the defense of failure of consideration. When the plaintiff acquired the note it was physically attached to a conditional sales contract by the terms of which the payee was to furnish the maker with an oil burner which in truth was never furnished, this being the claimed failure of consideration. Breach of the sales contract apparently took place after the plaintiff acquired the note. Held, plaintiff, having knowledge of the terms of the contract, was not a holder in …
Vendor And Purchaser - Mortgaging Of Land By Vendor - Effect On Vendee's Duty To Continue Installment Payments
Michigan Law Review
Plaintiffs agreed in writing to purchase a tract of land from the defendant, the purchase price to be paid in stated installments or in full at any time at the option of the plaintiffs. Two days after the formation of the contract the defendant mortgaged the land, and about eight months later placed a second mortgage on it. Plaintiffs denied having any knowledge of the mortgages until attempts were made to foreclose them. Previous to this, however, they had defaulted in their payments. In an action in general assumpsit to recover the amount of the installments paid it was held …
Subrogation -An Equitable Device For Achieving Preferences And Priorities
Subrogation -An Equitable Device For Achieving Preferences And Priorities
Michigan Law Review
Courts are seldom embarrassed in modern times by the poverty of their resources. On the contrary, with the multiplication of "substantive law" formulae and of new procedural devices, their difficulties more often result from the embarrassment of overwhelming riches. This statement may be best illustrated by a brief review of the equitable devices for achieving preferences and priorities, which have developed so rapidly within the last fifty years and have surmounted almost completely the artificial barriers of legal doctrine. In this field the chief effort of the courts must now be not to develop new machinery, but to reexamine the …
The Reckoning Of Damages In Fluctuating Exchange, Joseph H. Drake
The Reckoning Of Damages In Fluctuating Exchange, Joseph H. Drake
Michigan Law Review
Not the least serious of the evil effects of the Great War has been the resultant collapse in value of the currencies of foreign countries and the consequent dislocation of exchanges. The case of Sirie v. Godfrey, decided in the Appellate Division of the Supreme Court of New York, presents clearly one of the legal problems arising out of this situation. Goods were bought by an American lady in Paris, in 1913 and 1914, at a cost of about 10,000 francs. These goods were delivered in due time but were not paid for. At the time the goods were …