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Articles 1 - 12 of 12
Full-Text Articles in Law
Wills - Enforcement Of Parol Contract To Devise Real Property, John S. Slavens S.Ed.
Wills - Enforcement Of Parol Contract To Devise Real Property, John S. Slavens S.Ed.
Michigan Law Review
Plaintiffs and decedent made an oral agreement whereby plaintiffs agreed to pay decedent a yearly sum and to make repairs on certain real estate in return for which decedent agreed to devise the real estate to plaintiffs. Plaintiffs had been in possession of the property for several years and had vastly improved its value when decedent died, devising the property to third parties. Plaintiffs brought this action for specific performance against the devisees. The trial court, satisfied that the oral contract had been established, entered the decree for specific performance. On appeal, held, affirmed. A person can make a …
Mortgages - Redemption - Right Of Mortgagee To Require Partial Redemption, James S. Taylor S.Ed.
Mortgages - Redemption - Right Of Mortgagee To Require Partial Redemption, James S. Taylor S.Ed.
Michigan Law Review
The mortgagor of the premises in question died leaving as his heirs-at-law the plaintiff and eight other children. Shortly thereafter, the mortgagee commenced proceedings to foreclose the mortgage under a power of sale. Pending these proceedings the plaintiff entered the military service of the United States and thus became entitled under the Soldiers and Sailors Civil Relief Act of 1940 to protection against the exercise of the power of sale. The mortgagee purchased at the foreclosure sale and thereafter made extensive improvements on the land. Plaintiff brought a bill to redeem the premises, tendering the entire amount of the mortgage …
Insurance - Insurer's Right Of Restitution For (1) Excessive Payment Made In Discharge Of The Liability Of A Coinsurer And (2) Costs Of Defense, John W. Hupp S.Ed.
Insurance - Insurer's Right Of Restitution For (1) Excessive Payment Made In Discharge Of The Liability Of A Coinsurer And (2) Costs Of Defense, John W. Hupp S.Ed.
Michigan Law Review
The increasing use of the "pro rata" or "other insurance" clause in liability insurance policies has given rise to new instances of coinsurer relationships. Such a clause typically provides that the insurer will not be liable under its policy for a greater proportion of any loss than the applicable limit of liability of its policy bears to the total applicable limit of all valid and collectible insurance against such loss. It has been frequently stated that the existence of such clauses in two policies covering the same loss renders the liability under each of the policies several and not joint, …
Negligence - Proving Inviter's Breach Of Duty By Circumstantial Evidence, Charles E. Oldfather S.Ed.
Negligence - Proving Inviter's Breach Of Duty By Circumstantial Evidence, Charles E. Oldfather S.Ed.
Michigan Law Review
Plaintiff brought a negligence action for personal injuries suffered when she slipped on a spot of grease in the driveway of defendant's railroad station. The evidence showed that the spot was at least one foot square and was covered with dust and dirt so that it resembled in color and texture the rest of the pavement. The evidence also indicated that vehicles often drove through and parked in the drive, and that there were no marks on the spot other than a deep skid mark left by plaintiff's heel. The trial court allowed the jury to determine from this evidence …
Taxation - Federal Income Tax - Consequences To Seller And Buyer Of Covenant Not To Compete, Richard B. Barnett S.Ed.
Taxation - Federal Income Tax - Consequences To Seller And Buyer Of Covenant Not To Compete, Richard B. Barnett S.Ed.
Michigan Law Review
The owners of the entire capital stock of a newspaper business received an offer of $1,000,000 for their stock and a covenant not to compete with buyers for ten years. After the offer was accepted and the contract of sale drawn up, buyer asked for a clause in the contract evaluating the covenant not to compete at $50 a share and the stock at $150 a share in order to help him taxwise. The clause was accepted with little discussion. The sellers reported the entire proceeds of the sale on their income tax returns as long term capital gain, but …
Admiralty - Right To Jury Trial In Certain Cases On Great Lakes - Maintenance And Cure Not Contract Or Tort Matter, Richard B. Barnett S.Ed..
Admiralty - Right To Jury Trial In Certain Cases On Great Lakes - Maintenance And Cure Not Contract Or Tort Matter, Richard B. Barnett S.Ed..
Michigan Law Review
Libelant brought an action for maintenance and cure on the admiralty side of a federal district court in Illinois. He requested a jury trial, relying on the Act of February 20, 1845, which provides that in certain admiralty and maritime cases arising on the Great Lakes relating to any matter of contract or tort, trial shall be by jury on the demand of either party. The trial court heard the case without a jury and dismissed the libel on the merits. The court of appeals held, on appeal, that maintenance and cure was a matter of ancient and established …
Taxation-Federal Income Tax-Payment To Lessee For Surrender Of Lease Taxable As Capital Gain, Theodore J. St. Antoine
Taxation-Federal Income Tax-Payment To Lessee For Surrender Of Lease Taxable As Capital Gain, Theodore J. St. Antoine
Michigan Law Review
Taxpayer, a tenant in possession of premises under a lease, received a payment from the lessor to vacate and surrender the premises before the lease expired. The Tax Court decided that the payment was taxable only as a capital gain. On appeal, held, affirmed. Since the leasehold interest constituted property, its transfer by the lessee to the lessor was a sale of a capital asset under I.R.C., §117. Commissioner v. Golonsky, (3d Cir. 1952) 200 F. (2d) 72.
Chattel Mortgages In Floor Financing-Validity Of Recorded Chattel Mortgage As Against Purchaser In Ordinary Course-Effect Of Certificate Of Title Act When Certificate Retained By Mortgage, Walter H. Weiner S.Ed
Chattel Mortgages In Floor Financing-Validity Of Recorded Chattel Mortgage As Against Purchaser In Ordinary Course-Effect Of Certificate Of Title Act When Certificate Retained By Mortgage, Walter H. Weiner S.Ed
Michigan Law Review
Plaintiff, buyer of an automobile from a used-car dealer, brought suit against the dealer and a bank, to which the dealer had given a duly filed chattel mortgage covering the automobile, to have the mortgage declared invalid as to the automobile in question, and for specific enforcement of the promise by the dealer to deliver the certificate of title to the buyer. The mortgage contained a clause giving the dealer-mortgagor the right to sell automobiles mortgaged to the bank-mortgagee, but the bank retained possession of the certificate of title to the automobile. The Circuit Court in Chancery entered judgment for …
Corporations-Power Of Legislature To Revive Corporate Charter, John S. Slavens S.Ed
Corporations-Power Of Legislature To Revive Corporate Charter, John S. Slavens S.Ed
Michigan Law Review
Defendant, a New York corporation, was engaged in operating steamboats for sightseeing purposes below Niagara Falls. Defendant was incorporated in 1892 for a term of fifty years, the maximum then permitted by statute. Through inadvertence the charter was not renewed in 1942. The corporation continued in its regular course of business, and in 1947 when the oversight was discovered, the board of directors, with the approval of three-fourths of the shareholders, immediately revived the corporation under a statutory provision enacted in 1944. Plaintiffs, shareholders of the corporation, claimed that application of the provision was an unconstitutional deprivation of their rights …
Corporations-Officers And Directors-Effect Of Statutes On Contracts Between Corporations With Common Directors, William K. Davenport S.Ed.
Corporations-Officers And Directors-Effect Of Statutes On Contracts Between Corporations With Common Directors, William K. Davenport S.Ed.
Michigan Law Review
Legislative policy-making on the subject of contracts between corporations having interlocking directorates has required a balancing of the interest of corporate enterprise in the flexibility of business relations against the interest of minority shareholders in protection against self-dealing by corporate managers.
Real Property-Relation Of The Covenants For Title And The Doctrines Of Estoppel By Deed, James W. Callison S.Ed.
Real Property-Relation Of The Covenants For Title And The Doctrines Of Estoppel By Deed, James W. Callison S.Ed.
Michigan Law Review
The doctrine of estoppel by deed is familiar to all students of real property law. So, too, are the principles of law relating to covenants for title made by a grantor in connection with a conveyance of land. It is the purpose of this comment to discuss the relation between the two areas of law, with particular reference to two problems: (1) what effect does the estoppel doctrine have upon the recovery of damages by the grantee where there has been a breach of the covenant of seisin; and (2) conversely, what effect does recovery of substantial damages by the …
Equity-Specific Performance-Recent Trends In The Specific Enforcement Of Contracts To Sell Securities, Allan Neef S.Ed.
Equity-Specific Performance-Recent Trends In The Specific Enforcement Of Contracts To Sell Securities, Allan Neef S.Ed.
Michigan Law Review
The rise of the corporation, as a form of business organization, to a dominant position in the modern economic scene has attached increased importance to the ownership of corporate securities. As property interests have become more and more represented by such securities, society has promoted such interests by setting up organized procedures for dealing with and in securities. Stock exchanges have been organized to aid the marketability of corporate stocks. A brokerage profession has evolved to bring buyers and sellers together. Underwriting has been developed to aid in the initial disposal of securities by the issuing corporation. Governments have undertaken …