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Effect Of Pledgee's Breach Of Duty On Existence Of The Debt, William H. Farnham
Effect Of Pledgee's Breach Of Duty On Existence Of The Debt, William H. Farnham
Michigan Law Review
When A borrows money from B, and transfers to B possession of A's chattel as pawn, it will be observed at once that B, the pledgee, has become the owner of two things: (a) a contract right or debt against A ; (b) a pledgee's interest in or lien upon the pawn. If the pledgee thereafter, but before payment of the debt, is guilty of a breach of duty in his dealing with the pawn, problems present themselves as to the effect of the pledgee's wrongful conduct on the existence and ownership of the debt and of …
Corporations-Right Of Officers To Purchase Claims Against The Corporation And Enforce Them At Their Face Value
Michigan Law Review
Defendant was enlisted by one of the insolvent corporation's creditors, a holder of preferred stocks and debentures, to buy up landlord's claims against the corporation. These claims were large in number and amounts and were crucial elements in a successful reorganization. By means of the stock vote of the creditor, defendant was elected director of the corporation and remained as such for one month, though during this time he was not active in acquiring landlord's claims. Upon resignation as director, defendant was successful in buying up most of the landlord's claims, it being a fair inference from the facts that …