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Contracts - Consideration - Dealers' Contracts, Richard S. Brawerman
Contracts - Consideration - Dealers' Contracts, Richard S. Brawerman
Michigan Law Review
Defendant manufacturer, reserving the right to sell to enumerated persons, granted plaintiff dealer a franchise to sell certain of defendant's products in a defined territory. Plaintiff in turn promised to establish a place of business and develop the territory to the satisfaction of defendant. All orders received by defendant were to be subject to acceptance by defendant; defendant agreed to fill accepted orders as promptly as practicable; and plaintiff expressly released defendant from liability for loss or damage arising from failure of defendant to fill the plaintiff's orders. A clause, originally part of the agreement, allowing either party to cancel …
Contracts - Effect Of Fail Ure Of Performance In An Aleatory Contract, Michigan Law Review
Contracts - Effect Of Fail Ure Of Performance In An Aleatory Contract, Michigan Law Review
Michigan Law Review
Plaintiff held a note of defendant's husband, long overdue. Defendant promised to guarantee payment of her husband's note, in consideration of plaintiff's promise to lend her money. Thereafter plaintiff, in breach of its promise, refused defendant a loan. Defendant immediately repudiated the contract. Plaintiff sued on the contract to recover the amount of the note with interest. Held, the promises were dependent; plaintiff's refusal to make the loan was a material breach of its promise, and excused defendant from further performance under the contract. People's Trust & Savings Bank v. Wassersteen, (Wis. 1937) 276 N. W. 330.