Law Commons^™

Banks And Banking - Right Of National Bank To Sue On Personal Guaranty To State Bank After Consolidation L Of State Bank With National Bank, William C. Whitehead

Michigan Law Review

Defendants guaranteed payment to a state bank of the notes and renewals made by a borrower. Shortly thereafter the state bank was consolidated with a national banking association. The borrower issued a renewal note to the consolidated bank for the indebtedness owing the state bank. This was followed by a consolidation with another state bank, the appointment of a receiver, and the sale of the consolidated bank's assets to plaintiff. In answer to the claim on the guaranty for payment of the renewal note, defendants declared that the obligation was not assignable and that the identity of the obligee was …

The Right Of Privacy, Louis Nizer

Michigan Law Review

It is only during the last half-century that the law has recognized the "right to be let alone"-the right under certain circumstances to protect one's name and physiognomy from becoming public property.

No mention of such a right will be found in the works of the great political philosophers and tract-writers of the seventeenth and eighteenth centuries-Hobbes, Locke, Rousseau, Montesquieu, Spencer, Paine. In discoursing on "natural rights," "the state of nature," "social contract," and "the inalienable rights of man," they were concerned only with the power of the state to abridge the liberties of the people. Society had not yet …

Trust Mortgages - Effect Of Foreclosure Of Subsequent Mortgage As Prior Lien Under Subordination Agreement Of Which Bondholders Had No Knowledge, Rex B. Martin

Michigan Law Review

Plaintiff held bonds secured by a trust mortgage. The trustee, Moore, without the consent of all the bondholders, had agreed to subordinate the trust mortgage to a subsequent mortgage. Defendant, the assignee of the subsequent mortgagee, foreclosed its mortgage as a prior lien. Moore was properly served but did not appear, as no bondholder agreed to pay the costs of the litigation. In the present suit to invalidate the subordinating agreement and reinstate the trust mortgage as the prior lien, held, the judgment in the foreclosure action determined the issue of priority and was conclusive against all the bondholders. …