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Articles 391 - 420 of 1067

Full-Text Articles in Contracts

Insurance - Insurer's Right Of Restitution For (1) Excessive Payment Made In Discharge Of The Liability Of A Coinsurer And (2) Costs Of Defense, John W. Hupp S.Ed. Nov 1953

Insurance - Insurer's Right Of Restitution For (1) Excessive Payment Made In Discharge Of The Liability Of A Coinsurer And (2) Costs Of Defense, John W. Hupp S.Ed.

Michigan Law Review

The increasing use of the "pro rata" or "other insurance" clause in liability insurance policies has given rise to new instances of coinsurer relationships. Such a clause typically provides that the insurer will not be liable under its policy for a greater proportion of any loss than the applicable limit of liability of its policy bears to the total applicable limit of all valid and collectible insurance against such loss. It has been frequently stated that the existence of such clauses in two policies covering the same loss renders the liability under each of the policies several and not joint, …

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Taxation-Federal Income Tax-Payment To Lessee For Surrender Of Lease Taxable As Capital Gain, Theodore J. St. Antoine May 1953

Taxation-Federal Income Tax-Payment To Lessee For Surrender Of Lease Taxable As Capital Gain, Theodore J. St. Antoine

Michigan Law Review

Taxpayer, a tenant in possession of premises under a lease, received a payment from the lessor to vacate and surrender the premises before the lease expired. The Tax Court decided that the payment was taxable only as a capital gain. On appeal, held, affirmed. Since the leasehold interest constituted property, its transfer by the lessee to the lessor was a sale of a capital asset under I.R.C., §117. Commissioner v. Golonsky, (3d Cir. 1952) 200 F. (2d) 72.

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Corporations-Power Of Legislature To Revive Corporate Charter, John S. Slavens S.Ed Apr 1953

Corporations-Power Of Legislature To Revive Corporate Charter, John S. Slavens S.Ed

Michigan Law Review

Defendant, a New York corporation, was engaged in operating steamboats for sightseeing purposes below Niagara Falls. Defendant was incorporated in 1892 for a term of fifty years, the maximum then permitted by statute. Through inadvertence the charter was not renewed in 1942. The corporation continued in its regular course of business, and in 1947 when the oversight was discovered, the board of directors, with the approval of three-fourths of the shareholders, immediately revived the corporation under a statutory provision enacted in 1944. Plaintiffs, shareholders of the corporation, claimed that application of the provision was an unconstitutional deprivation of their rights …

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Chattel Mortgages In Floor Financing-Validity Of Recorded Chattel Mortgage As Against Purchaser In Ordinary Course-Effect Of Certificate Of Title Act When Certificate Retained By Mortgage, Walter H. Weiner S.Ed Apr 1953

Chattel Mortgages In Floor Financing-Validity Of Recorded Chattel Mortgage As Against Purchaser In Ordinary Course-Effect Of Certificate Of Title Act When Certificate Retained By Mortgage, Walter H. Weiner S.Ed

Michigan Law Review

Plaintiff, buyer of an automobile from a used-car dealer, brought suit against the dealer and a bank, to which the dealer had given a duly filed chattel mortgage covering the automobile, to have the mortgage declared invalid as to the automobile in question, and for specific enforcement of the promise by the dealer to deliver the certificate of title to the buyer. The mortgage contained a clause giving the dealer-mortgagor the right to sell automobiles mortgaged to the bank-mortgagee, but the bank retained possession of the certificate of title to the automobile. The Circuit Court in Chancery entered judgment for …

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Corporations-Officers And Directors-Effect Of Statutes On Contracts Between Corporations With Common Directors, William K. Davenport S.Ed. Mar 1953

Corporations-Officers And Directors-Effect Of Statutes On Contracts Between Corporations With Common Directors, William K. Davenport S.Ed.

Michigan Law Review

Legislative policy-making on the subject of contracts between corporations having interlocking directorates has required a balancing of the interest of corporate enterprise in the flexibility of business relations against the interest of minority shareholders in protection against self-dealing by corporate managers.

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Real Property-Relation Of The Covenants For Title And The Doctrines Of Estoppel By Deed, James W. Callison S.Ed. Mar 1953

Real Property-Relation Of The Covenants For Title And The Doctrines Of Estoppel By Deed, James W. Callison S.Ed.

Michigan Law Review

The doctrine of estoppel by deed is familiar to all students of real property law. So, too, are the principles of law relating to covenants for title made by a grantor in connection with a conveyance of land. It is the purpose of this comment to discuss the relation between the two areas of law, with particular reference to two problems: (1) what effect does the estoppel doctrine have upon the recovery of damages by the grantee where there has been a breach of the covenant of seisin; and (2) conversely, what effect does recovery of substantial damages by the …

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Equity-Specific Performance-Recent Trends In The Specific Enforcement Of Contracts To Sell Securities, Allan Neef S.Ed. Jan 1953

Equity-Specific Performance-Recent Trends In The Specific Enforcement Of Contracts To Sell Securities, Allan Neef S.Ed.

Michigan Law Review

The rise of the corporation, as a form of business organization, to a dominant position in the modern economic scene has attached increased importance to the ownership of corporate securities. As property interests have become more and more represented by such securities, society has promoted such interests by setting up organized procedures for dealing with and in securities. Stock exchanges have been organized to aid the marketability of corporate stocks. A brokerage profession has evolved to bring buyers and sellers together. Underwriting has been developed to aid in the initial disposal of securities by the issuing corporation. Governments have undertaken …

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Personal Property-Liens-Artisan's Lien On Unimproved Goods For Improved Goods Delivered Under A Single Contract, Warren K. Urbom S.Ed. Dec 1952

Personal Property-Liens-Artisan's Lien On Unimproved Goods For Improved Goods Delivered Under A Single Contract, Warren K. Urbom S.Ed.

Michigan Law Review

Pursuant to a contract a partnership delivered to defendant a carload of paper upon which defendant had agreed to print certain forms in accordance with instructions to be given by the partnership. Thereafter a corporation succeeded to the assets and assumed the liabilities of the partnership and gave to the defendant instructions for a desired printing. A portion of the paper was printed and delivered to the corporation, the remaining unprinted paper being held by the defendant under a claim of a statutory lien for the printing actually completed. Plaintiff, assignee of the trustee in bankruptcy of the corporation, sued …

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Federal Procedure-Removal Denied To Lmpleaded Party Under 28 U.S.C. 1441(C), Robert G. Russell S. Ed. Nov 1952

Federal Procedure-Removal Denied To Lmpleaded Party Under 28 U.S.C. 1441(C), Robert G. Russell S. Ed.

Michigan Law Review

Plaintiff sued to recover indebtedness of $7000, to foreclose a chattel mortgage, and to enjoin a local bank from permitting the accounts of the debtor to be withdrawn. Defendant then filed a cross-complaint, as authorized by state procedure, against a third party nonresident garnishee to recover damages for breach of contract and money owed in the sum of $35,000. The cross-defendant removed the case to the United States district court. Held, although the cross-complaint stated a separate and independent cause of action, it could not be the basis of removal since 28 U.S.C. §1441 (c) contemplates only the removal …

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The Law Of Belligerent Occupation In The American Courts, Morris G. Shanker S.Ed. May 1952

The Law Of Belligerent Occupation In The American Courts, Morris G. Shanker S.Ed.

Michigan Law Review

This comment will investigate the extent to which the law of belligerent occupation has actually become a part of the American municipal law, and thereby attempt to determine whether it was properly applied in this case.

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Promissory Estoppel: Principle From Precedents: Ii, Benjamin F. Boye Apr 1952

Promissory Estoppel: Principle From Precedents: Ii, Benjamin F. Boye

Michigan Law Review

It is ancient learning that a person is free to refuse to accept an appointment as agent but that "acceptance must be followed by execution or prompt resignation." Though such was the law of the Romans of Justinian's time, it has taken our courts many years to reach the same conclusion. Indeed, it was not until the Restatement of Agency was published in 1933 that the basis of liability of one who gratuitously undertook to act as agent for another was expressed in approximately the same form.

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Real Property-Landlord And Tenant-Transfer By Lessee As Sublease, Not Assignment, John S. Slavens Apr 1952

Real Property-Landlord And Tenant-Transfer By Lessee As Sublease, Not Assignment, John S. Slavens

Michigan Law Review

X leased lands to plaintiff for a term of years, with a provision that if property truces were assessed against the property in excess of a certain amount, plaintiff would pay X a certain proportion of the excess amount as additional rent. Plaintiff then transferred his remaining term to defendant "subject to the terms" of the overlying lease. In addition, the sublease provided for a right to cancel the sublease if defendant failed to restore in case of fire or in the event of taking by eminent domain. Subsequent to the sublease, the tax assessments exceeded the amount stipulated in …

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Torts--Inducing Breach Of Contract--Attorney-Client Contingent Fee Contract, Richard W. Pogue Mar 1952

Torts--Inducing Breach Of Contract--Attorney-Client Contingent Fee Contract, Richard W. Pogue

Michigan Law Review

Plaintiff, a practicing attorney, undertook on a contingent fee basis to represent a husband and wife in separate claims for damages alleged to have been suffered by them through the negligence of the driver of a motor vehicle. The driver was insured under a policy issued by defendant. Defendant had notice of the contract. After plaintiff had started suit on the damage claim and as the case was about to be tried, defendant's adjusters, without knowledge on the plaintiff's part, allegedly induced the clients to discharge the plaintiff (and "thereby break their contingent fee contract with him") and subsequently to …

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Agency-Imputation Of Agent's Knowledge To Principal-Insurance Contracts, Robert B. Krueger S.Ed. Mar 1952

Agency-Imputation Of Agent's Knowledge To Principal-Insurance Contracts, Robert B. Krueger S.Ed.

Michigan Law Review

Defendant insurance company's soliciting agent falsified applicant's warranted answers to material questions in an application for automobile casualty insurance. The applicant signed, not knowing of the nature of the answers. On the basis of these answers, defendant issued a casualty policy on applicant's automobile, containing a clause prohibiting waiver or estoppel as to any of the terms of the contract because of the agent's knowledge. As a result of a subsequent accident, plaintiffs recovered judgments against applicant which applicant failed to satisfy. In an action by plaintiffs against defendant, on supplemental petition, defendant admitted recovery against applicant, but claimed no …

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Business Associations-Partnership-Claims Against Partner Who Asserts Infancy, Harold S. Lentz S. Ed. Dec 1951

Business Associations-Partnership-Claims Against Partner Who Asserts Infancy, Harold S. Lentz S. Ed.

Michigan Law Review

An adult partner sought dissolution of the partnership, contribution of monies according to the contract, determination of liabilities for debts, ascertainment of respective interests, and an accounting from the infant partner. The infant partner asserted his infancy, disavowed the contract, and moved to dismiss the action. Held, motion granted except as to plaintiffs demand for a dissolution and accounting. Sacco v. Schallus, 11 N.J. Super. 197, 78 A. (2d) 143 (1950).

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Contracts-Rights Of Third Party Beneficiary-Effect Of Michigan Beneficiary Contract Statute, Gordon W. Hueschen S. Ed. Dec 1951

Contracts-Rights Of Third Party Beneficiary-Effect Of Michigan Beneficiary Contract Statute, Gordon W. Hueschen S. Ed.

Michigan Law Review

On agreement to make mutual wills, Stephen and his two sisters entered into an agreement whereby the sisters agreed to will to Stephen, or in event Stephen predeceased them, to his wife, all property which they should receive from their father. Stephen did predecease the sisters, whereupon they executed new wills with no provision for Stephen's widow. Upon death of the last sister, the widow's bill for specific performance of the agreement was dismissed by the circuit court. In affirming on appeal, the Michigan Supreme Court held that the agreement as to Stephen and all other persons except the sisters …

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Civil Procedure-Verdicts-New Trial For Defendant Because Of Inadequacy Of Verdict Against Him, Cleaveland J. Rice S. Ed. Jun 1951

Civil Procedure-Verdicts-New Trial For Defendant Because Of Inadequacy Of Verdict Against Him, Cleaveland J. Rice S. Ed.

Michigan Law Review

Plaintiff sued on a contract for a pro rata share of an agreed $750 annual bonus in addition to salary. The evidence was undisputed that plaintiff had worked for at least the first six months of the year, and possibly seven. The jury was instructed that if it should find that there was such a contract, it should return a verdict for a fractional part of $750, the amount depending upon the portion of the year worked. The result was a verdict in favor of plaintiff for only $312.50. The trial court denied defendant's motion for new trial on grounds …

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Contracts-Illegality-Effect Of Violation Of Assumed Name Statute, Gordon I. Ginsberg Jun 1951

Contracts-Illegality-Effect Of Violation Of Assumed Name Statute, Gordon I. Ginsberg

Michigan Law Review

ln response to a subpoena, petitioner appeared as a witness before a United States district court grand jury. Several questions concerning· her knowledge and association with the Communist Party were put to her. In each case, she refused to answer the questions, claiming the constitutional privilege against self-incrimination. For refusal to answer these same questions when brought before the district court, petitioner was adjudged to be in contempt of court. The court of appeals affirmed the holdings, and certiorari was granted by the Supreme Court. Held, judgment reversed. The Smith Act makes it unlawful to advocate knowingly the desirability …

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Insurance-Loan Contract Which Provides For Cancellation Of Debt In Event Of Named Contingencies As An Insurance Contract, Wendell B. Will Mar 1951

Insurance-Loan Contract Which Provides For Cancellation Of Debt In Event Of Named Contingencies As An Insurance Contract, Wendell B. Will

Michigan Law Review

In consideration of plaintiff's promise to pay $720 to defendant in twelve monthly installments, defendant promised to advance $600. Plaintiff's obligation was to be cancelled in case of his death, and his obligation to pay installments was to be suspended while plaintiff was disabled because of illness or accident. Plaintiff warranted his good health and agreed that the contract was neither usurious nor one of insurance. The contract having been executed, plaintiff sought recovery under the Texas usury statute. The trial court held that of the $120 paid in excess of the loan, $60 was for maximum legal interest, $12 …

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Patents-Exclusive Licenses-Licensor And Licensee Relationship- Llicensee's Obligations, Gordon W. Hueschen S. Ed. Mar 1951

Patents-Exclusive Licenses-Licensor And Licensee Relationship- Llicensee's Obligations, Gordon W. Hueschen S. Ed.

Michigan Law Review

Patent licensing is today, as always, a very significant part of patent law. Since royalty licenses allow a patentee to realize pecuniary benefits from his invention without yielding ownership, as he would by an assignment, they are especially attractive to an inventor who anticipates considerable commercial success for his contribution, and who does not desire to lose all control of the invention for a lump sum, the adequacy of which must be, at best, speculative. From the licensee's standpoint, it is usually advantageous to be free of competition from others also operating under the same patent monopoly, at least within …

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Contracts-Equitable Lien On Partnership Assets, Thomas P. Segerson Feb 1951

Contracts-Equitable Lien On Partnership Assets, Thomas P. Segerson

Michigan Law Review

The plaintiff and X, now deceased, entered into a partnership agreement whereby each was given the option, upon the death of the other, to wind up the partnership affairs according to law or to purchase the deceased's interest. On X's death, plaintiff exercised the option to purchase. In this suit plaintiff seeks to have a certain agreement construed as a deed and to quiet title. Defendants, as legal representatives of X, answered and filed cross bills claiming a lien on all partnership assets or decedent's partnership interest for the balance due on the purchase price. Defendants allege …

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Lectures On The Conflict Of Laws And International Contracts, University Of Michigan Law School Jan 1951

Lectures On The Conflict Of Laws And International Contracts, University Of Michigan Law School

Summer Institute on International and Comparative Law

The lectures contained in this volume were delivered at Ann Arbor in the course of the sessions of the Summer Institute on International and Comparative Law under the auspices of the University of Michigan Law School, August 5 to 21, 1949. As a part of the institute program that has been inaugurated with the encouraging support not merely of the Faculty of the Law School but also of many interested members of the bar - a program designed to supplement the ordinary course of legal studies through the exploration of "frontiers of the law" in lectures and discussions delivered or …

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Agency-Election To Sue Undisclosed Principal Or Agent, Alan C. Boyd S. Ed. Jan 1951

Agency-Election To Sue Undisclosed Principal Or Agent, Alan C. Boyd S. Ed.

Michigan Law Review

Plaintiff brought action against a principal and his agent to foreclose a mechanic's lien on the principal's real property, alleging that he had expended labor and materials in the improvement of the principal's land pursuant to a contract between himself and the agent. Though plaintiff joined the agent as a party defendant, he did not pray for relief against him. Both defendants moved to dismiss the action. Held, action dismissed as to the agent. Whether or not the principal was disclosed at the time the contract arose, the action was properly dismissed as against the agent. If the principal …

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Insurance-Consummation Of The Contract-Delivery Of The Policy, John J. Gaskell S. Ed. Jan 1951

Insurance-Consummation Of The Contract-Delivery Of The Policy, John J. Gaskell S. Ed.

Michigan Law Review

An application for life insurance was accepted, and a policy issued, mailed to, and received by the agent of the insurer. The application provided that the policy would not take effect until "manual" delivery thereof. The agent made several unsuccessful attempts to deliver the policy, but before any physical transmission of the policy, the insured died. The beneficiaries sued to recover the amount of the policy. The trial court gave judgment for the defendant insurance company. On appeal, held, affirmed. Manual delivery was a valid condition precedent. There having been no manual transmission to the insured, and the plaintiffs …

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Contracts-Measure Of Damages-Life Insurance Contract, Howard Van Antwerp Jun 1950

Contracts-Measure Of Damages-Life Insurance Contract, Howard Van Antwerp

Michigan Law Review

When the plaintiff was expelled from defendant Brotherhood an insurance policy issued to the plaintiff by the defendant was canceled and the cash surrender value paid to him in accordance with the terms of his policy. The directors of the Brotherhood later decided that this expulsion had been wrongful, whereupon the plaintiff returned the cash surrender value of the policy and demanded the return of all premiums paid. When this demand was refused, the plaintiff sued to recover damages for wrongful cancellation of his policy. The trial court instructed the jury to return a verdict for the premiums paid with …

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International Law-Jurisdiction-Application Of United States Seaman's Laws To Foreign Seamen On Foreign Vessels, Philip Smullin Jun 1950

International Law-Jurisdiction-Application Of United States Seaman's Laws To Foreign Seamen On Foreign Vessels, Philip Smullin

Michigan Law Review

Libelants, eleven Greek seamen, signed a contract in the United States for a voyage from this country to Spain on a Greek vessel. They were discharged when the ship reached Barcelona. The shipowners made advance payments to these seamen, as they had in the past, and deducted such payments when settlements were made in the United States at the end of the voyage, a practice contrary to a federal statute. Prior to libelants' return to the United States from Spain, where they had been properly discharged, suit was instituted in their behalf for wages. Respondents paid into court a sum …

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Bills And Notes-Liability Of Indorser After Statute Of Limitations Has Barred Action Against Marker, James F. Gordy S.Ed. May 1950

Bills And Notes-Liability Of Indorser After Statute Of Limitations Has Barred Action Against Marker, James F. Gordy S.Ed.

Michigan Law Review

Defendant company made a note which was indorsed personally by defendant Heiselt, its president. The lower court, in rendering judgment against defendant Heiselt personally, held that the statute of limitations had run in favor of the defendant company but that it had not run in favor of the defendant Heiselt, as his absence from the state during a portion of the period had tolled the statute as to him. On appeal, held, affirmed. Under section 120(3) of the N.I.L. there had been no "discharge of a prior party" which would allow one secondarily liable to escape liability. Upton v. …

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Bills And Notes--Indorsement "For Deposit Only"--Effect On Negotiability, Stephen A. Bryant S.Ed. May 1950

Bills And Notes--Indorsement "For Deposit Only"--Effect On Negotiability, Stephen A. Bryant S.Ed.

Michigan Law Review

Defendant, in payment for goods purchased, drew two checks payable to W which W indorsed "pay to order of plaintiff bank for deposit only" and deposited with plaintiff. Plaintiff credited W's account with the amount of the checks, which sum was immediately withdrawn. Defendant then stopped payment of the checks as W failed to deliver the goods purchased; and, since W was bankrupt, plaintiff sought to recover the amount of the checks from defendant. Defendant sought to assert a defense which was good against W, on the theory that plaintiff, as restrictive indorsee, was merely a trustee for …

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Contracts-Validity Of "No Damage" Clause, Nancy J. Ringland Apr 1950

Contracts-Validity Of "No Damage" Clause, Nancy J. Ringland

Michigan Law Review

A "no damage" clause in a contract with a housing authority for the construction of a housing development provided that "no payment or compensation of any kind shall be made to the contractor for damages because of hindrance or delay from any cause in the progress of the work, whether such delays be avoidable or unavoidable." Contractor sought to recover from the housing authority for delay caused by arbitrary and unreasonable conduct of the authority. Held, the contractor could not recover unless the delay or hindrance was caused by fraud, bad faith, or malicious intent. Psaty & Fuhrman, Inc. …

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Contracts-Effect Of Supervening Temporary Impossibility, Robert H. Frick S.Ed. Apr 1950

Contracts-Effect Of Supervening Temporary Impossibility, Robert H. Frick S.Ed.

Michigan Law Review

The plaintiff, a Japanese-owned corporation located in the United States, was operating under a limited license to do business granted under an executive order. On November 1, 1941, the plaintiff contracted to purchase from the defendant corporation 6,000 pockets of rice for delivery during November and December 1941 at the plaintiff's option. On December 7, 1941, the Secretary of the Treasury revoked all licenses issued under the executive order and the plaintiff's place of business was closed. Upon learning of this, the defendant corporation notified the plaintiff of his (defendant's) repudiation of the contract on December 9, 1941. On December …

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