Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 5 of 5
Full-Text Articles in Law
Future Interests - Rule Against Perpetuities Applibd To A Charitable Trust
Future Interests - Rule Against Perpetuities Applibd To A Charitable Trust
Michigan Law Review
The testator devised property to a trustee to accumulate the income for the period of a life in being and twenty-one years. Then a corporation was to be organized to receive the fund as trustee in order to apply it to a named charitable purpose. Held, that the gift does not contravene the rule against perpetuities on the grounds that the gift takes effect in possession the instant the prior period ends, that beneficially the gift vests in charity at the death of the testator, and that the rule does not apply to charitable gifts. First Camden National Bank …
Trusts-Apportionment Of Dividends Between Life Beneficiaries And Remaindermen - Depletion Of Oil Reserve
Michigan Law Review
Stock in an oil company was left in trust to pay the income to life beneficiaries with remainder over. For income-tax purposes the company deducted from income a figure for depletion of oil reserve, but at the close of each year it added directly to surplus account the same amount which had been deducted for depletion. Since the books of the company thus indicated that its management did not regard the drawing of oil from its wells as reducing the value of its property the court held that dividends, so far as they are made out of this amount, should …
Corporations - Interference With The Internal Affairs Of A Foreign Corporation
Corporations - Interference With The Internal Affairs Of A Foreign Corporation
Michigan Law Review
The quaint cliché, "interference with the internal affairs of a foreign corporation," has sufficiently dominated judicial decisions to merit an exalted place in what Justice Cardozo has called "the tyranny of tags and tickets." A frequently adopted analysis for the purpose of determining whether the court will hear the cause allegedly involving internal affairs confines the inquiry of the court to the application of a test laid down by the Maryland court about a half century ago.
Insurance - Murder Of Insured By Beneficiary - Liability Of Insurer To Estate Of Deceased Where Both Beneficiary And Insured Are Covered By One Joint Policy
Michigan Law Review
The deceased and her husband took out with the defendant company a joint policy payable to the survivor of diem. After the murder of the deceased by her husband, her administratrix brought an action to recover the proceeds of the insurance. The court held that since the parties had contracted for the survivor to take all, there could be no recovery in favor of the deceased's estate. Merrity v. Prudential Insurance Company, (N. J. 1932) 161 Atl. 681.
Torts -Trespassers - Statutory Non-Liability Of Railroads
Torts -Trespassers - Statutory Non-Liability Of Railroads
Michigan Law Review
Plaintiff, five years of age, was leaning over the edge of defendant's bridge, looking into a canal, when a train was backed into standing cars without warning, and plaintiff was injured. Children were accustomed to play on the bridge, despite the presence of "Danger - No Trespassing" signs. Plaintiff recovered judgment in the trial court, and the judgment was affirmed by the circuit court of appeals, but the Supreme Court of the United States held that the New Jersey statute section 55 of the Railroad Act, "negatived the attractive nuisance and implied invitation doctrines," and reiterated the so-called "Massachusetts Rule" …