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Criminal Law And Procedure - Interpretation Of Statute, Michigan Law Review
Criminal Law And Procedure - Interpretation Of Statute, Michigan Law Review
Michigan Law Review
Convicted of the statutory crime of falsely uttering a bank check, defendant appealed on the ground that the instrument in question was a promissory note. It was in appearance and form a check except for the substitution of "will pay" for "pay" and the addition of the words "payable at" before the name of the bank. Held, affirmed, the court construing the instrument as a check. State v. Doudna, (Iowa, 1939) 284 N. W. 113.
Mortgages - Limitation Of Actions - Deficiency Decree On Basis Of Covenant In Mortgage When Action On Note Barred, Donald M. Swope
Mortgages - Limitation Of Actions - Deficiency Decree On Basis Of Covenant In Mortgage When Action On Note Barred, Donald M. Swope
Michigan Law Review
Defendant executed and delivered to plaintiff a promissory note and a mortgage securing it. The mortgage contained a covenant to pay $10,000 (the principal amount of the note) "according to the terms of a certain promissory note bearing even date herewith." Upon foreclosure it was held, three judges dissenting, that the mortgagee was entitled to a deficiency decree notwithstanding action on the note was barred by the statute of limitations. Guardian Depositors Corporation of Detroit v. Savage, 287 Mich. 193,283 N. W. 26 (1938).
Bills And Notes - Effect Of Statute Of Limitations On Demand Certificates Of Deposit And Certified Checks, Michigan Law Review
Bills And Notes - Effect Of Statute Of Limitations On Demand Certificates Of Deposit And Certified Checks, Michigan Law Review
Michigan Law Review
Plaintiff sued on a certificate of deposit and a certified check, the former being issued by the defendant bank in 1905 and the latter being certified in 1919. Both were negotiated in 1937 and presented for payment the next day. Defendant pleaded the ten year statute of limitations as a bar. Held, at common law the statute of limitations did not operate on demand certificates of deposit until demand had been made, and section 70 of the Negotiable Instrument Law does not alter this common-law requirement. This applies also to certified checks, for they are substantially the same as …