Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 7 of 7
Full-Text Articles in Law
Criminal Law And Procedure - Interpretation Of Statute, Michigan Law Review
Criminal Law And Procedure - Interpretation Of Statute, Michigan Law Review
Michigan Law Review
Convicted of the statutory crime of falsely uttering a bank check, defendant appealed on the ground that the instrument in question was a promissory note. It was in appearance and form a check except for the substitution of "will pay" for "pay" and the addition of the words "payable at" before the name of the bank. Held, affirmed, the court construing the instrument as a check. State v. Doudna, (Iowa, 1939) 284 N. W. 113.
Banks And Banking - Duty Of Depositor To Determine Status Of His Account, James D. Ritchie
Banks And Banking - Duty Of Depositor To Determine Status Of His Account, James D. Ritchie
Michigan Law Review
Plaintiff's bookkeeper, who, as defendant bank admittedly knew, had authority only to indorse and deposit commission checks to plaintiff's account, embezzled considerable money between 1926 and 1931 by taking some of the proceeds in cash or drafts. In the passbook and in defendant's own records only the net transactions, not the total amount of the checks, were recorded. Plaintiff discovered the fraud in 1936 and now sues the receiver five years after the bank closed. Held, that plaintiff, charged with constuctive knowledge of the fraud, which reasonable examination would have revealed, is guilty of negligence and therefore barred from …
Corporations - Derivative Suits - Insolvency As A Bar, Edmund O'Hare
Corporations - Derivative Suits - Insolvency As A Bar, Edmund O'Hare
Michigan Law Review
Plaintiff, stockholder in defendant bank, brought a derivative suit against the bank's directors to recover moneys allegedly wrongfully appropriated by them from the bank's assets. Before the commencement of the suit the bank had become insolvent and was in the process of liquidation. Held, the directors' motion to dismiss should be granted, since a stockholder may not maintain an action to hold an insolvent corporation's directors liable for fraud or mismanagement unless it appears that he will be benefited by the relief demanded, and full recovery here would still leave an excess of liabilities over assets. Falvey v. Foreman-State …
Aliens - Deportation - Crimes Involving Moral Turpitude, John H. Uhl
Aliens - Deportation - Crimes Involving Moral Turpitude, John H. Uhl
Michigan Law Review
The petitioner in this case was an alien who had been convicted of smuggling into and concealing within the United States illegally imported alcohol. He was sentenced to serve a year and a day in a federal penitentiary. Upon his release, he was arrested and ordered deported under the Immigration Act of 1917, as an alien who after February 5, 1917 was sentenced to imprisonment for a term of more than a year because of conviction in this country of a crime involving moral turpitude, committed within five years after his entry to the United States. Petitioner seeks release on …
Securities Legislation - Act Of 1933 - Withdrawal Of Registration Statement, Fred C. Newman
Securities Legislation - Act Of 1933 - Withdrawal Of Registration Statement, Fred C. Newman
Michigan Law Review
The right to withdraw, a registration statement filed with the Securities and Exchange Commission was involved in a recent case. The plaintiff had filed a registration statement with the Securities and Exchange Commission. The statement became effective. Thereafter, the commission instituted proceedings under the stop order provision. There had been no sale of shares to which the registration statement related. After the hearings commenced, plaintiff petitioned the commission for permission to withdraw the registration statement. The commission denied the petition. Thereupon plaintiff filed a bill in equity, praying that the commission be required to permit plaintiff to withdraw its registration …
Constitutional Law-Double Jeopardy-Acquittal In Prior Criminal Prosecution As Bar To Action For Penalties Based In Fraud, Allan A. Rubin
Constitutional Law-Double Jeopardy-Acquittal In Prior Criminal Prosecution As Bar To Action For Penalties Based In Fraud, Allan A. Rubin
Michigan Law Review
Defendant had been acquitted of a criminal charge of wilfully attempting to evade or defeat an income tax under section 146(b) of the Federal Revenue Act of 1928. Subsequently this action was initiated for the collection of an additional fifty per cent of the total amount of the deficiency under section 293 (b) of the same act, which provides that if any deficiency is due to fraud with intent to evade the tax, fifty per centum of such deficiency in addition to the amount of the deficiency shall be collected. Plaintiff brought certiorari from an order of modification eliminating the …
Corporations - Conditions Under Which Settlement Of Corporate Claims Will Not Prevent A Stockholder's Derivative Suit On Such Claims, John M. Ulman
Corporations - Conditions Under Which Settlement Of Corporate Claims Will Not Prevent A Stockholder's Derivative Suit On Such Claims, John M. Ulman
Michigan Law Review
In the recent case of United States Lines, Inc. v. United States Lines Co. the plaintiff was a minority stockholder in United States Lines, Inc., whose only asset was a minority stock interest in the United States Lines Company. A majority of the stock in both companies was owned by the International Mercantile Marine Company. An action originally brought by the United States Lines, Inc., but settled out of court, was sought to be continued by the plaintiff, who alleged: (1) that the Marine Company and its subsidiaries had entered into fraudulent contracts with the United States Lines Company and …