Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 3 of 3
Full-Text Articles in Law
Taxation-Debt Reduction, John M. Veale S.Ed.
Taxation-Debt Reduction, John M. Veale S.Ed.
Michigan Law Review
Inherent in an economy financed by a large volume of credit, extending over varying intervals of time, is the problem of debt reduction and revalorization. The ramifications of this problem in the income tax field have long intrigued legal scholars and confounded the courts. A recent case illustrates anew the danger, to client and counsel, lurking in the assumption that the tax significances of debt reduction have finally been reduced to mathematical certainty. The taxpayer borrowed $90,000 from a bank in 1925, using the funds to pay off encumbrances upon, and make improvements on, a piece of property. As a …
Some Problems In Special Assessment District Obligations, Irvin Long
Some Problems In Special Assessment District Obligations, Irvin Long
Michigan Law Review
The question of the jurisdiction of a board or officer authorized to construct a local improvement and levy special assessments therefor has always been troublesome, and is particularly so when bonds or other obligations are issued in anticipation of the collection of such assessments. A vast amount of litigation has occurred in Michigan in recent years over drain district assessments, and bonds which such districts have issued. While this is of primary interest to Michigan lawyers and investors in public securities, many of the questions involved seem to be of such a general nature, so far as special assessment procedure …
Statute Of Frauds-Extinguishment Of Beneficial Interest In Constructive Trust In Land, Richard J. Archer
Statute Of Frauds-Extinguishment Of Beneficial Interest In Constructive Trust In Land, Richard J. Archer
Michigan Law Review
In order to increase borrowing capacity the husband conveyed several parcels of land to his wife so as to establish a separate credit for her; parol evidence indicated that the conveyance was for the use of the husband. Subsequently their relations became estranged, and the husband attempted a parol surrender of the parcels to his wife. The New Jersey Statute of Frauds is the counterpart of the English Statute requiring the creation of an express trust to be manifested and proved by writing but excluding from the requirement of writing creations, transfers, or extinguishments by operation of law. In a …