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Full-Text Articles in Law
Security-Distribution Of Proceeds
Cognovit Notes-Collateral Security
Applications Of The Distinction Between Mortgages And Trust Deeds In California, Joseph M. Cormack, James B. Irsfeld Jr.
Applications Of The Distinction Between Mortgages And Trust Deeds In California, Joseph M. Cormack, James B. Irsfeld Jr.
Faculty Publications
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Bills And Notes - Liability Of "Irregular Lndorser" Of Chose In Action, Gerald L. Stoetzer
Bills And Notes - Liability Of "Irregular Lndorser" Of Chose In Action, Gerald L. Stoetzer
Michigan Law Review
Trustee bank, for the purpose of refinancing a mortgage on trust property, executed a trust deed and instrument, designated as the "principal note," which disclaimed personal liability of trustee and beneficiaries, expressly providing that the sole remedy upon default of payment of "note" or interest installment should be by foreclosure of the trust deed. Before delivery, the beneficiaries of the trust indorsed the "note" though not parties thereto. Upon default the holder brought this action against one of the beneficiaries on his anomalous indorsement. Held, (1) that the "note" was a mere chose in action; (2) that an irregular …
Contracts - Specific Enforcement Of An Executory Accord, Benjamin H. Dewey
Contracts - Specific Enforcement Of An Executory Accord, Benjamin H. Dewey
Michigan Law Review
Sometime previous to the suit in question, defendant had executed a mortgage to the plaintiff, the loan secured by such mortgage to be repaid in installments. After having paid some but not all of the installments, defendant defaulted. As a result of negotiations between the parties and the Federal Land Bank of Omaha, it was agreed that the defendant should pay a lump sum in full satisfaction of the balance of the installments due under the mortgage. Performance was later tendered under this agreement, but the plaintiff refused to accept same, and subsequently brought suit in equity to foreclose the …