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Contracts

University of Michigan Law School

Michigan Law Review

New York

Articles 1 - 12 of 12

Full-Text Articles in Law

Contracts-Proposals For Legislation Abrogating The Requirement Of Consideration In Whole Or In Part, Charles B. Blackmar S.Ed. Nov 1947

Contracts-Proposals For Legislation Abrogating The Requirement Of Consideration In Whole Or In Part, Charles B. Blackmar S.Ed.

Michigan Law Review

Consideration is the test evolved by our law for separating enforceable informal promises from those that are unenforceable. The doctrine of consideration has frequently been criticized, but it is so firmly established that most of the recent proposals for change have been addressed to the legislatures. The purpose of this discussion is to consider proposed legislation both as to its possible operation and as to the future effect of the proposals on the basic doctrine of consideration.


Constitutional Law - Due Process Limitations On Statutes Regulating Extrastate Contracts, Michigan Law Review Aug 1943

Constitutional Law - Due Process Limitations On Statutes Regulating Extrastate Contracts, Michigan Law Review

Michigan Law Review

Plaintiffs, reciprocal insurance associations which insure against fire and related risks, and whose attorneys-in-fact are located in Illinois, brought a declaratory judgment action in New York state courts for a determination of the applicability to them of the New York law requiring that such co-operative insurance associations obtain a license, or be prohibited from doing "any act which effects, aids or promotes the doing of an insurance business" in New York. As a condition of the license, submission to the New York regulations is required. The activities of the associations within the state of New York include investigation by engineers …


Contracts - Statute Of Frauds - Promise To Answer For Debt Of Another, Mary Jane Morris Jun 1943

Contracts - Statute Of Frauds - Promise To Answer For Debt Of Another, Mary Jane Morris

Michigan Law Review

The defendants owned stock in a corporation and controlled its affairs. The corporation purchased paper needed in its production of periodicals from the plaintiffs. The defendants prepared a budget showing that the corporation would incur a deficit over a six-month period in connection with the publication of a newly acquired magazine. They then informed the plaintiffs that they would place the corporation "in funds" to enable it to "finance the anticipated deficit" and requested the plaintiffs to extend credit not to exceed ninety days so as to allow the defendants more time to consider in what manner "to advance" the …


Election Of Remedies- Contracts Induced By Fraud, Michigan Law Review Feb 1941

Election Of Remedies- Contracts Induced By Fraud, Michigan Law Review

Michigan Law Review

In 1939, plaintiff brought an action alleging in his complaint that defendant became indebted to him on December 17, 1928, for $13,400, for money had and received by defendant to the use of plaintiff. In a bill of particulars plaintiff pointed out that the indebtedness arose from the purchase of certain bonds and the subsequent rescission of the contract of purchase prior to the commencement of this action, basing his right to rescind upon misrepresentations made by, and the fraud of, defendant in inducing the purchase of said bonds. When defendant moved for a summary judgment on the ground that …


Contracts - Wills - Third Party Beneficiary Contract As Testamentary Disposition, Harold M. Street Apr 1940

Contracts - Wills - Third Party Beneficiary Contract As Testamentary Disposition, Harold M. Street

Michigan Law Review

The defendant executed a bond and mortgage to one Catherine McCarthy Jackman. Subsequently the parties entered into an extension agreement wherein it was provided that in the event of the death of the mortgagee prior to the .maturity of the mortgage, the interest and principal were to be paid one-half to a brother of the mortgagee and one-half to the heirs of a deceased sister. After the death of the mortgagee prior to the maturity of the mortgage, the plaintiffs (the brother and heirs of the deceased sister) claimed a right to the payment of interest as third party beneficiaries. …


The Vendee's Lien- On Land And Chattels Nov 1934

The Vendee's Lien- On Land And Chattels

Michigan Law Review

The vendee's lien is now firmly established as an equitable device to insure full restitution to the purchaser of land on his rescission for the vendor's fraud or default. It first appeared in a dictum in an early English case where it was suggested as a possible analogy to the implied vendor's lien for the purchase money. But it was 1855 before the question was presented squarely to an English court of record, and 1860 when the House of Lords definitely approved it. Long before this, however, courts of equity in the United States had begun to μse this device …


Contracts - Fraud -Tests Of Materiality In Deceit And On Rescission For Fraud May 1934

Contracts - Fraud -Tests Of Materiality In Deceit And On Rescission For Fraud

Michigan Law Review

Current decisions abundantly show the usefulness and efficiency of remedies based on rescission in contracts induced by fraud, as compared with damage remedies. Modern improvements in the rescission remedies go far to explain their popularity. On the other hand, the tests for "materiality" of misrepresentations that are unavoidably connected with the action of deceit have restricted its utility. Both the advantages of rescission and the disadvantages of damage remedies appear most clearly in a period of rapidly fluctuating and uncertain values. These considerations seem to justify a comparative study of the tests of "materiality" evolved by recent decisions in actions …


National Industrial Recovery Act - President's Re-Employment Agreement - Injunction By Labor Union Dec 1933

National Industrial Recovery Act - President's Re-Employment Agreement - Injunction By Labor Union

Michigan Law Review

Plaintiff, a Wisconsin labor union, was granted a temporary injunction restraining defendant shoe company, a party to the President's Re-employment Agreement, from "further interference with the right of its employes to organize into unions of their own free will and choice" and from "interfering with . . . the freedom of its employes in the designation of representatives of their own choice for the purpose of bargaining collectively" with the company. The court decided that defendant had violated its agreement with the President to comply with section 7 (a) of the National Industrial Recovery Act. This last was based on …


Bills And Notes - Estoppel As Against Bona Fide Purchaser Of Non-Negotiable Chose Jan 1932

Bills And Notes - Estoppel As Against Bona Fide Purchaser Of Non-Negotiable Chose

Michigan Law Review

Plaintiffs bought some interim certificates (at that time non-negotiable in New York), and delivery was made to them. Because of inability to make payment that day, they asked the vendor to send a runner for the certificates, and when a person appeared asking for the amount due the vendor, plaintiffs' cashier gave him the certificates. Shortly thereafter the proper runner arrived, and plaintiff's at once gave notice of the theft in newspapers and otherwise. Some of the stolen certificates were pledged with defendant who acted in good faith in taking them. The defense to this suit for recovery of the …


Equity-Power To Reform-Effect Of Statute Of Frauds Jun 1931

Equity-Power To Reform-Effect Of Statute Of Frauds

Michigan Law Review

The plaintiff made an oral contract to sell certain shares of stock to the defendant at a price of $1,160 a share, as a result of a telephone conversation. On the same day the plaintiff sent the defendant a written confirmation of the sale, in which the price of $1,060 a share was inserted by mistake. The New York Statute of Frauds makes such a contract unenforceable unless a note or memorandum thereof be in writing. Held, that although the parties intended to make a memorandum of the oral contract which they had made, the memorandum was of a …


Master And Servant-Tests Of Independent Contract Feb 1931

Master And Servant-Tests Of Independent Contract

Michigan Law Review

The claimant was employed by a dairy company to sell and deliver milk along a defined route, his "payment being in the form of a commission on each bottle sold. He was required to make daily payments in cash for milk and cream sold, but had the privilege of returning unsold milk or cream at the end of each day. Horses and vehicles were hired from the company at a stated price per day. Claimant was injured by a fall from his wagon while making deliveries. The State Industrial Board held him to be a servant and awarded him workmen's …


Deeds-Side Of Lake As Boundary-Presumption That Grantee Takes To Center Feb 1931

Deeds-Side Of Lake As Boundary-Presumption That Grantee Takes To Center

Michigan Law Review

ln a conveyance of land adjoining a lake, the description read in part, "thence running northerly * * * to the Rockland Lake thence westwardly along the south side of the Rockland Lake." Held, that the grantee took to the center of the lake. White v. Knickerbocker Ice Co. et al. (N. Y. 1930) 172 N.E. 452.