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Full-Text Articles in Law
Equity - Specific Performance Of Contract To Lend Money, Robert C. Lovejoy
Equity - Specific Performance Of Contract To Lend Money, Robert C. Lovejoy
Michigan Law Review
Plaintiff, through the Mortgage Service Bureau, which acted as intermediary, negotiated a loan from defendant bank, secured by a mortgage on plaintiff's land. Plaintiff executed and delivered notes and a mortgage, and defendant drew a check for one of the loan installments payable to plaintiff and the bureau, The latter without authority took the check, forged plaintiff's signature, and kept the money. The bureau being out of business and insolvent, plaintiff, with an unfinished house on his hands and without funds to complete it, sought specific performance of the agreement to lend. Held, plaintiff was entitled to specific performance, …
Executors And Administrators - Liability Of Original Lessee's Estate On Assigned Long - Term Lease, Charles G. Schwartz
Executors And Administrators - Liability Of Original Lessee's Estate On Assigned Long - Term Lease, Charles G. Schwartz
Michigan Law Review
Defendant's testator had entered into a ninety-nine year lease with the plaintiff lessor, and shortly afterward, with the consent of the plaintiff, had assigned the lease to a corporation. The lease was renewable forever. Fourteen years later the original lessee died testate, leaving an estate of approximately $1,000,000. The lessor now seeks to have the court impound nearly all of the estate as security for future rent payments. At the time of suit there had been no default in rent installments. Held, plaintiff has no present cause of action. In the absence of any default in rent, mere privity …
Trade Restraints - Antitrust Laws - Consent Decrees - Right Of Intervention Where Decree Reopened, Gerald M. Lively
Trade Restraints - Antitrust Laws - Consent Decrees - Right Of Intervention Where Decree Reopened, Gerald M. Lively
Michigan Law Review
In 1935, the Attorney General brought a suit in equity to enforce the antitrust laws, charging Columbia Gas & Electric Corporation and its controlled instrumentality, Columbia Oil & Gasoline Corporation, and individual defendants, with having conspired for the benefit of Columbia Gas to shut out operation in the Indiana-Ohio-Michigan area by the Panhandle Eastern Pipe Line Company, which had built a natural-gas pipe line from the Texas fields to the border of Indiana. Panhandle was an offspring of Missouri-Kansas Pipe Line Company, or Mokan, which at the time of the suit owned half its stock and half its junior debt. …
Bankruptcy - Corporate Reorganization - Absolute Priority Rule, Kenneth J. Nordstrom
Bankruptcy - Corporate Reorganization - Absolute Priority Rule, Kenneth J. Nordstrom
Michigan Law Review
-A plan for reorganization under section 77B of the Bankruptcy Act involved a debtor holding company and two subsidiaries. Each subsidiary had a bonded indebtedness which, including unpaid accrued interest, was in excess of the value of assets that were s
Trusts - Tort Liability Of Trustee In His Representative Capacity, Reid J. Hatfield
Trusts - Tort Liability Of Trustee In His Representative Capacity, Reid J. Hatfield
Michigan Law Review
Plaintiff brought suit to recover damages for injuries allegedly sustained because of the unsafe condition of a hotel building owned and operated by the defendant trustee. The trustee was an insolvent bank and trust company in the hands of the state superintendent of banks, who was also joined as defendant. The prayer was for a "judgment against the defendants in their fiduciary capacity toward the trust." On appeal of the lower court's judgment sustaining defendants' demurrer, held, that the trustee could be sued in his representative capacity. Carey v. Squire, 63 Ohio App. 476, 27 N. E. (2d) …
Banks And Banking -Trusts - Right Of Bank To Sell Participating Trust Certificates In Self-Owned Property, Michigan Law Review
Banks And Banking -Trusts - Right Of Bank To Sell Participating Trust Certificates In Self-Owned Property, Michigan Law Review
Michigan Law Review
In 1923 the trust company entered into a transaction with the land company by which the land company borrowed $130,000 with which it purchased a city property for slightly less than that amount and gave title to the trust company as security for the loan. Through a series of loans later negotiated the trust company came to have an investment of $150,000 in the property. In 1926 the trust company made an agreement with the land company pursuant to which the trust company declared itself trustee of the property at an appraised value almost fifty per cent above the purchase …