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Articles 541 - 570 of 846
Full-Text Articles in Contracts
Contracts - Duration Of Employment When No Time Is Specified
Contracts - Duration Of Employment When No Time Is Specified
Michigan Law Review
The plaintiff, claiming a contract from year to year, sued to recover for the unexpired portion of the second year of his employment which defendant had terminated. The offer, made and accepted by mail, was for "the position of General Sales Manager at a salary of $15,000 per year to begin with . . . . " It further appeared that plaintiff had moved from New York to Milwaukee, that he had been making more money per year prior to this employment, and that payment by defendant had been made monthly. Held, that the hiring was indefinite and terminable …
Equity - Election Of Remedies - Deceit After Rescission
Equity - Election Of Remedies - Deceit After Rescission
Michigan Law Review
Plaintiff purchaser rescinded a contract of sale on the ground of fraud and sued defendants in a deceit action, alleging as damages a payment made on the purchase price and special expense incurred by reason of making the purchase. Held, recovery for both items of damage will be allowed. Copeland v. Reynolds, (N. H. 1933) 164 Atl. 215.
Banks And Banking - Power To Pledge Assets To Secure Private Depositors
Banks And Banking - Power To Pledge Assets To Secure Private Depositors
Michigan Law Review
Plaintiff railway company deposited funds in the national bank of the defendant receiver. Dissatisfied with the guaranty of his deposits by surety bonds, the plaintiff demanded and received from the bank Liberty Loan Bonds, which were deposited with the trust officer of the bank to be held as security for the repayment, on demand, of the deposits. On the insolvency of the bank, the receiver refused to turn over the bonds, whereupon the plaintiff brought an action on the contract of pledge. Held, that the contract of pledge of the bank's assets to secure the private deposit was invalid …
Banks And Banking - Land Contract As Item For Collection Under The Bank Collection Code
Banks And Banking - Land Contract As Item For Collection Under The Bank Collection Code
Michigan Law Review
The petitioner deposited with A Bank a land contract. The bank was to collect payments thereon and remit them to the petitioner. After making two collections amounting to $100, the bank became insolvent and the petitioner sought a preferred claim against all the assets of the bank. The Bank Collection Code (sec. 13 of Act No. 240 of the Public Acts of Michigan, 1931) was the basis of his claim. The trial judge allowed him a preference as to cash assets on hand at the time the receiver took possession. Since it was doubtful whether there would be any cash …
Quasi-Contracts -- Sufficiency Of Technical Benefit
Quasi-Contracts -- Sufficiency Of Technical Benefit
Michigan Law Review
A brokerage house, the R. Co., having purchased stock on margin for the plaintiff, requested a payment of $1100 in order to protect themselves in carrying the account. Doubting the financial stability of R. Co. the plaintiff decided to transfer the account to another firm, the defendant, and accordingly delivered to R. Co. a personal check naming the defendant as payee, at the same time orally directing R. Co. to transfer the stock and check to the defendant and from them receive payment in full. R. Co., however, falsely represented that the check was really theirs and that the plaintiff …
Contracts - Offer And Acceptance - Silence As Acceptance
Contracts - Offer And Acceptance - Silence As Acceptance
Michigan Law Review
D had engaged P, an attorney, to sue X for $144,000 gotten by fraud, P agreeing to try the case on a 25 per cent contingent fee. While the suit was pending, D began negotiations through local attorneys for a settlement out of court, and asked P on March 4 what his fees would be in the event D accepted a compromise offer. P replied that his fee would be $12,500. On June 16 a settlement was reached, after which P was instructed to discontinue the suit. When D refused to pay the fee P sued. Held, that …
Vendor -Purchaser-Prospective Inability Of Vendor To Convey
Vendor -Purchaser-Prospective Inability Of Vendor To Convey
Michigan Law Review
In a contract for the sale of sixty-three lots of a subdivision, the defendant agreed to take the purchase money by installments extending over a period of eighteen months, and promised to convey the premises free from encumbrances when twenty-five per cent of the sale price was paid. While the plaintiff was not in default the defendant mortgaged the entire subdivision to one who was not charged with notice, to secure the payment of bonds some of which did not mature for five years. Stipulations m the mortgage allowed the release of any lot on deposit with the mortgagee of …
Pleading-Election Between Express Contract And Quantum Meruit
Pleading-Election Between Express Contract And Quantum Meruit
Michigan Law Review
The plaintiff's complaint was twofold. It first set forth an express, written building-contract. The second "cause of action" was based on the quantum meruit theory and alleged what the plaintiff's services were reasonably worth. In his answer the defendant set up a counterclaim for damages due to the plaintiff's delay and faulty construction. During the trial the court, on motion of the defendant, required the plaintiff to elect on which of the two counts it would stand. The plaintiff elected the express contract. From a judgment in its favor for a fraction of the damages demanded, the plaintiff appealed. Held …
Municipal Corporations - Effect Of The Lowest Responsible Bidder Statutes On "Local Labor" Provisions
Michigan Law Review
The plaintiff, a taxpayer, brought a bill to prevent the defendant from carrying out a contract with a certain construction company. The plaintiff alleged that the requirement in the proposal for bids that all laborers should have been residents of Delaware for at least six months prior to the awarding of the contract violated the lowest responsible bidder statute. Held, it not having been shown that the requirement would, as a matter pf fact, increase the cost, it therefore did not violate the statute, Ebbeson v. The Board of Public Education in Wilmington, (Del. 1931) 156 Atl. 286.
Quasi-Contracts-Waiver Of Tort-Suit Against Governmental Agency
Quasi-Contracts-Waiver Of Tort-Suit Against Governmental Agency
Michigan Law Review
County officials forcibly ejected plaintiff from five acres of his land, harvested and used plaintiff's oat crop thereon, and converted the land into a road. Held, that although a county, being an agency of the State, is not liable in tort in the absence of statute, the tort may be waived and recovery allowed on the implied promise to pay for the taking of private property for public use without just compensation. Kerns v. Couch, (Or. 1932) 12 Pac. (2d) 1011.
Banks And Banking - Right To Recover For Benefits Conferred Under An Illegal Contract
Banks And Banking - Right To Recover For Benefits Conferred Under An Illegal Contract
Michigan Law Review
The Rowena State Bank, a corporation organized under the laws of South Dakota, borrowed a sum of money from the plaintiff who was the president of the bank. A state statute provided : "In all cases where money is borrowed, a bank shall issue its 'Bills Payable' and shall show the true amount of borrowed money on its books." The bank failed to comply with this statute. A short time later the defendant as superintendent of banks took charge of this bank. The plaintiff brought an action to recover upon a quantum meruit for the money loaned. Held, that …
Contracts - Champerty
Michigan Law Review
Plaintiff leased her lands to defendant under a void oil and gas lease. One Johnston induced plaintiff to enter into a contract with him whereby Johnston agreed to pay the costs of a bill to cancel the lease in return for a new lease to himself should the bill be successful. Accordingly, this suit was brought to cancel the lease. The court, agreeing that the existing lease was void, nevertheless dismissed the bill on the ground that the contract between Johnston and plaintiff was void as against public policy, and that plaintiff had no standing in equity. Of the eight …
Contracts - Statute Of Frauds - Moral Obligation As Consideration
Contracts - Statute Of Frauds - Moral Obligation As Consideration
Michigan Law Review
The defendant, who gave the plaintiff, a real estate broker, a promissory note for services rendered pursuant to an oral contract within the statute of frauds, was held liable thereon, since he had received material pecuniary benefit under circumstances giving rise to a moral obligation to pay. Elbinger v. Capitol & Teutonia Co., (Wis. 1932) 242 N. W. 568.
Equity - Supplemental Decrees
Michigan Law Review
Appellant sold a trade name to the appellee which the latter was to use on "crayons, pastels, oil and water color paints, pens and erasers." Appellee used the name on other commodities and the appellant obtained an injunction forbidding the use of the name on any articles not mentioned in the contract. A year later, and in another term of court, the appellant moved for a supplemental decree, representing that the appellee was violating the spirit of the injunction by drafting advertising so that through association of the commodities upon which the name could be used with those upon which …
Partnership - Consideration For Contract - Illusory Promise
Partnership - Consideration For Contract - Illusory Promise
Michigan Law Review
D and his three daughters executed an agreement whereby each was to get an undivided fourth interest in all of D's property. The business under this agreement was to be conducted on a partnership basis. It was agreed that D should have complete control of the business and the right to issue only such profit as he saw fit beyond the actual need of the daughters. A demand note was given in 1918 by each of D's daughters without interest. The notes were renewed and the majority of the court agreed that it was the intent of the …
The Contracts Restatement, Grover C. Grismore
The Contracts Restatement, Grover C. Grismore
Michigan Law Review
A book review of OF THE LAW OF CONTRACTS. By the American Law Institute.
Contracts - Mutual Assent - Misrepresentation Of Contents Of Written Offer
Contracts - Mutual Assent - Misrepresentation Of Contents Of Written Offer
Michigan Law Review
The defendant orally agreed to buy a year's supply of gasoline of the plaintiff, it being understood that the agreement was to be put in writing. Plaintiff's agent presented two documents to the defendant, telling him that they embodied the oral agreement, and the defendant signed without reading them. One of the documents was in form a lease of defendant's filling station to plaintiff at a nominal rent. Plaintiff brought suit, based on the lease, for possession of the premises. Held, the lease is invalid. The defendant's negligence in signing without reading is immaterial. Phillips Petroleum Company v. Roth …
Contracts -Anticipatory Breach - Recovery Of The Present Worth Of Unmatured Installments Of A Debt
Contracts -Anticipatory Breach - Recovery Of The Present Worth Of Unmatured Installments Of A Debt
Michigan Law Review
It is generally agreed that recovery may be had in one suit not only of the damages suffered up to the date of the writ but also of prospective damages for the non-performance of that which is not yet due, whenever a defendant has committed a partial material breach of an executory bilateral contract or of a unilateral contract to do something other than to pay a sum of money. The same conclusion is reached whenever a defendant has repudiated his promise after the time for beginning performance has arrived. These propositions are accepted even in those jurisdictions which do …
Quasi-Contracts - Measure Of Recovery On Infant's Disaffirmance
Quasi-Contracts - Measure Of Recovery On Infant's Disaffirmance
Michigan Law Review
On November 1, 1928, an infant caused to be delivered to a brokerage firm shares of stock in which he had an interest or equity of $3,342.09. The brokerage firm had been carrying a margin account with the infant which was continued until it was closed April 2, 1929, by payment to him of $70.99. While yet in his minority he rescinded the agreement with his brokers, and disaffirmed the entire transaction. In an action for the recovery of the value of his equity in the shares of stock as of November 1, 1928, minus the sum paid to him …
Effect Of A Restriction On Assignment In A Contract, Grover C. Grismore
Effect Of A Restriction On Assignment In A Contract, Grover C. Grismore
Michigan Law Review
The early common law took a strictly logical view in regard to the assignability of contract rights and duties. Since a contract is essentially a personal relationship voluntarily entered into by the parties to it, it follows as a logical deduction that one of the parties should not be allowed to destroy that relationship by introducing a third person into it in his place without the consent of the other party. This was the view of the early common law. However, in the course of time, as we know, the commercial spirit gradually made inroads into this doctrine until we …
Contracts - Anticipatory Breach - Effect Of Election
Contracts - Anticipatory Breach - Effect Of Election
Michigan Law Review
The plaintiff leased a lot to a development company and the latter agreed to demolish the present buildings and begin the erection of new ones by April 1, 1934. The defendant was surety on a bond executed to insure performance. The development company was adjudged bankrupt and, on February 11, 1931, the trustee expressly repudiated the contract. On February 24 the plaintiff notified the trustee and the bankrupt that he refused to accept the disaffirmance of the contract and would hold them to performance. The plaintiff later brought suit on the theory that the action constituted an acceptance of the …
Specific Performance - Chattel Contracts Performable In Installments
Specific Performance - Chattel Contracts Performable In Installments
Michigan Law Review
The refusal of a court of equity to decree the performance of a contract relating to personalty is not based on any intrinsic. difference between land and chattels. Any distinction between them is entirely subordinate to the question whether an adequate remedy can be afforded at law. Yet constant repetition has imparted such a degree of rigidity to the rule that courts have been prone to forget the reason on which it rests. Nowhere is this fact more evident than in the field of installment contracts.
Contracts - Executed Modification - Consideration
Contracts - Executed Modification - Consideration
Michigan Law Review
A and B in 1912 entered into a written contract of separation in which B, the wife of A, gave up her marital rights and A promised to pay to her $75 per month thereafter. Six years later B orally agreed to reduce the payments to $25 per month. B accepted the reduced payments for a period of twelve years. B then brought suit for $10,000, asserting that there was no consideration for the modified agreement. Held, that the modified agreement was executed and would not be disturbed for want of consideration. Vigelius v. Vigelius, (Wash. …
Suretyship - Interpretation Of Surety Contract
Suretyship - Interpretation Of Surety Contract
Michigan Law Review
A bank sued to recover on a surety bond for loss sustained because of fraud practised by one of the vice-presidents on a customer. The bond provided that performance was subject to certain conditions and limitations, among which was one to the effect that the bank should notify the surety within ninety days of the default. The surety was not notified until the trial four years later. Held, notification is a condition precedent to liability, even though the surety was not prejudiced by lack of notice. National City Bank v. National Security Company, (C. C. A. 6th, 1932) …
Quasi-Contracts - Statute Of Frauds - Right To Restitution Of Money Paid On Oral Land Contract
Quasi-Contracts - Statute Of Frauds - Right To Restitution Of Money Paid On Oral Land Contract
Michigan Law Review
Plaintiff paid $1,000 on an oral agreement for the purchase of land. Defendant admitted receipt of the money but alleged he was ready, able, and willing to comply with the terms of the agreement and convey the land. Held, that since the contract was void under the statute of frauds, plaintiff might recover. Reedy v. Ebsen, (S. D. 1932) 242 N. W. 592.
What Is A "Contract" Under The Contracts Clause Of The Federal Constitution?, Paul G. Kauper
What Is A "Contract" Under The Contracts Clause Of The Federal Constitution?, Paul G. Kauper
Michigan Law Review
The case of Coombes v. Getz, recently decided by the United States Supreme Court, raises in a crucial way the question of what is a contract within the meaning of Article I, section 10 of the Constitution, forbidding States to pass laws impairing the obligations of contracts. A provision of the California Constitution in force at the time the plaintiffs brought this action in the state court below made directors of corporations jointly and severally liable to the creditors and stockholders for all moneys embezzled or misappropriated by the officers of the corporation during the term of office of …
Assignment Of Money Claims (Particularly Wage Claims) - Restraint On Alienation
Assignment Of Money Claims (Particularly Wage Claims) - Restraint On Alienation
Michigan Law Review
If a contract has been performed on one side so that all that remains is an obligation to pay and a right to receive money, can the parties by agreement effectively prevent the assignment of the claim? The Illinois Supreme Court had this question before it for consideration in the case of State Street Furniture Co. v. Armour & Co., where the plaintiff was the assignee of wages due to an employee of the defendant, the employee having agreed not to assign his wages without the written consent of his employer. The court decided that the restrictive agreement had …
Vendor And Purchaser-Right Of Purchaser To Exoneration As To A Prior Vendor's Lien
Vendor And Purchaser-Right Of Purchaser To Exoneration As To A Prior Vendor's Lien
Michigan Law Review
The case of McClure v. Southfield Woods Corporation, decided by the Michigan supreme court last year, raised an interesting question as to whether a contract vendee of land which is included in a tract subject to a pre-existing vendor's lien has a right of exoneration against his vendor as to such incumbrance. The plaintiff in that case had sold land to the Southfield Woods Corporation by a contract which provided for joinder of the vendor and vendee in a subdivision plat and for release of any lots from the vendor's lien upon payment of a stipulated sum, in addition …
Contracts-Assignment-Liability Of Assignee For Non-Performance Of Delegated Duties
Contracts-Assignment-Liability Of Assignee For Non-Performance Of Delegated Duties
Michigan Law Review
Plaintiff bank extended credit to cover checks drawn by X, a cattle buyer, who agreed that the proceeds of the sale of the cattle would be deposited to the bank's credit in A bank. X gave an order to the defendant, his commission broker, to retain the proceeds of the sale of the cattle and deposit them in A bank to the credit of the plaintiff. Defendant deposited the proceeds in its own name in B bank and sent its check to A bank. B bank became insolvent and the check was never paid. Held, in Wallowa Nat. …
Mortgages-Given Without Consideration But Intended As Gift
Mortgages-Given Without Consideration But Intended As Gift
Michigan Law Review
Statements that no mortgage is good unless there is consideration therefor are common; but that such statements are entirely true is very doubtful. Jones, in his book, Mortgages, makes such a statement, and then in the same section tells us that a mortgage intended as a gift will be enforced against all but prior creditors of the mortgagor. Wiltsie, in his book, Mortgage Foreclosures, states that want of consideration is a good defense, with some exceptions which are not clearly indicated. And Tiffany, in his work on Real Property, suggests that although a mortgage without consideration might be valid as …