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Full-Text Articles in Law
Bills And Notes - What Constitutes A Reasonable Time In Presenting A Check For Payment
Bills And Notes - What Constitutes A Reasonable Time In Presenting A Check For Payment
Michigan Law Review
Defendant delivered to the plaintiff, at about 10 o'clock A. M., a check drawn on the B bank. The next morning at 10:30 o'clock the plaintiff's agent went to drawee to cash the check. As there was "a run" being made on the bank that day, the agent was forced to stand in line. After waiting from 10:30 o'clock in the morning to 1 o'clock in the afternoon, he left without cashing the check. The next day the bank failed to open its doors. In an action by the plaintiff to recover the debt covered by the check, the defendant …
Bills And Notes - Waiver Of Presentment And Notice Of Dishonor
Bills And Notes - Waiver Of Presentment And Notice Of Dishonor
Michigan Law Review
The defendant was an accommodation indorser on a demand note without interest. Almost three years after date of the note the holder notified defendant that repeated attempts had been made to secure payment from the maker, but without avail, and that the defendant was expected to pay. This resulted in a conversation between holder and defendant in which defendant indicated that it was not convenient for him to pay the note, and some discussion occurred as to the defendant's giving collateral security and an effort on his part to get some protection from the maker, the holder allowing the note …
Public Officers - When Do They Owe A Duty To A Particular Individual Rather Than A Class?
Public Officers - When Do They Owe A Duty To A Particular Individual Rather Than A Class?
Michigan Law Review
The plaintiff, a stockholder in the Bank of the United States, sued the defendant, superintendent of banks for New York State, for losses sustained when the bank failed as a result of the defendant's failure to perform certain acts required by statute. Held, the defendant, being charged by statute with a duty to all the people of the state, owed no duty to the stockholders as individuals, and was not liable to the plaintiff. Walker v. Broderick, 252 N. Y. S. 559 (1931).
Suretyship - Revocation By Death
Suretyship - Revocation By Death
Michigan Law Review
In consideration of a promise on the part of the vendor in a land contract to accept from the purchaser the first four installments of interest in the form of four notes, the decedent agreed in writing to indorse said notes and become responsible to the vendor for their payment. The surety died before the first of the notes was to be made and indorsed. A claim was made against the estate of the surety on this writing, the trial judge finding for the estate on the ground that there was no competent evidence from which damage might be determined; …