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Articles 61 - 78 of 78
Full-Text Articles in Contracts
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) …
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 …
Corporations - Rescission Of Contract Procured Through Fraud
Corporations - Rescission Of Contract Procured Through Fraud
Michigan Law Review
P purchased shares of stock in S Company through the fraud and misrepresentation of his agents in collusion with the agents of the S Company. Upon discovery of the fraud, P tendered back a number of shares equal to the number received by himself and his innocent associates. In the meantime, P had resold part of the shares at a higher price. Held, P must also tender the profit resulting from the resale and subsequent purchase of equivalent shares in a fallen market, together with any dividends paid on stock and interest from date of payment. Marr v. Tumulty …
A Comparative Study Of The Statutory Survival Of Tort Claims For And Against Executors And Administrators, Alvin E. Evans
A Comparative Study Of The Statutory Survival Of Tort Claims For And Against Executors And Administrators, Alvin E. Evans
Michigan Law Review
The problem of the survival of actions after death of one of the parties is unfortunately not merely a mater of history. Like the poor, it is always with us. We can no longer profitably wave aside the problems likely to be presented by a comparative study of American legislation on survival by stating that our legislation covers the same general field as do the English statutes of 4 Edward III and 3 and 4 William IV and others of less importance. There is a need for an outline of these American statutes and for a rationalization of the principles …
Review: A Textbook On Law And Business, J. Wayne Ley
Review: A Textbook On Law And Business, J. Wayne Ley
Michigan Law Review
A Book Review on A TEXTBOOK ON LAW AND BUSINESS By William H. Spencer
Contracts - Consideration - Forbearance To Exercise A Right
Contracts - Consideration - Forbearance To Exercise A Right
Michigan Law Review
Defendant was the assignee of a mortgage on a farm owned by the plaintiff. He gave newspaper notice of intent to foreclose, and ten days before the foreclosure period expired he signed and delivered to the plaintiff a writing in which he "agreed" to pay them three thousand dollars "providing said foreclosure of mortgage expires in my name." The foreclosure did so expire and this suit was brought to recover the money promised. Held, the promise is not enforceable, due to lack of consideration. Shaw v. Philbrick (Me. 1930) 151 Atl. 423.
Quasi-Contracts--Duress--Tort Action For
Quasi-Contracts--Duress--Tort Action For
Michigan Law Review
The court in the instant case implied by way of dictum that the plaintiff could have recovered if duress had existed. Perhaps as to the commissions sufficient benefit was conferred upon the defendant to form the basis of quasicontractual liability. WOODWARD, LAW OF QUASI-CONTRACTS, sec. 211; Astley v. Reynolds, 2 Strange 915; Darling-Singer Lumber Co. v. Oriental Navigation Co., 127 Or. 655, 272 Pac. 275.
Anticipatory Repudiation Of Contracts And Necessity Of Election, L. Vold
Anticipatory Repudiation Of Contracts And Necessity Of Election, L. Vold
Michigan Law Review
Where a breach of contract takes place several courses of conduct are normally open to the aggrieved promisee. He may bring an action for damages. He often may rescind for the breach. He sometimes may sue for specific performance. He may accept later performance on account. He may try to persuade the defaulting party to live up to the contract. He may for the time being ignore both the contract and the breach. If he follows certain of these courses of conduct others may thereby become impossible. He thus has an election of remedies, a choosing between inconsistent courses of …
Insurance-Incontestability Clauses-What Will Amount To A Contest
Insurance-Incontestability Clauses-What Will Amount To A Contest
Michigan Law Review
The incontestability clause is quite common at present in life insurance policies, and is the source of much litigation. The insurance policy has usually contained many statements or representations by the insured, and it was a common experience that after the insured had paid premiums on a life insurance policy, perhaps for years, and had died in the belief that his family was well provided for, the insurance company avoided payment on the ground that the insured had made a misrepresentation in the policy, or had committed a breach of warranty. As a result, a feeling grew up that all …
Infants' Contracts--Application Of Doctrine Of Estoppel When Infant Has Mispresented Age
Infants' Contracts--Application Of Doctrine Of Estoppel When Infant Has Mispresented Age
Michigan Law Review
It has been laid down that as a general rule the doctrine of estoppel has no application to infants. 31 C. J. 1005; 22 CYC. 512. But many cases recognize an exception to this general rule, where the infant has reached the age of discretion and has intentionally and fraudulently made misrepresentations. A common case is that in which the infant has induced a person to enter into a contract with him, by fraudulently representing himself to be of age. As to whether or not he will be estopped from setting up his infancy, in a suit on such contract, …
Recent Important Decisions
Michigan Law Review
A collection of recent important court decisions.
The Intention Fallacy In The Construction Of Title Retaining Contracts, Abraham J. Levin
The Intention Fallacy In The Construction Of Title Retaining Contracts, Abraham J. Levin
Michigan Law Review
''Truth", said William James, "lives for the most part on a credit system. Our thoughts and beliefs 'pass', so long as nothing challenges them, just as bank-notes pass, so long as nobody refuses them." This can also be said of legal principles. In the interpretation and construction of conditional sales and kindred title retaining instruments the courts and lawyers and text writers have assumed that the intention of the parties governs under all circumstances regardless of whether the suit is between the original parties to the contract, or whether the issue involves the rights of third parties. So far as …
Recent Important Decisions
Michigan Law Review
A collection of recent important court decisions.
Constitutional Law-Liberty Of Contract-Regulation Of Loaves Of Bread
Constitutional Law-Liberty Of Contract-Regulation Of Loaves Of Bread
Michigan Law Review
A Nebraska statute aimed at short weights in loaves of bread, forbade the manufacture or sale of loaves weighing either more or less than specified standard amounts. It applied only to quantities of 25 loaves or more and a "tolerance" of two ounces per pound was allowed in excess of the standard weights, to be measured by taking an average of the whole consignment. The prohibition of excess weights was explained by the Nebraska court as an attempt "to prevent a loaf of one standard from being increased in size until it can readily be sold for a larger standard". …
Effectiveness Of Oral Contracts, Within The Statute Of Frauds, John B. Waite
Effectiveness Of Oral Contracts, Within The Statute Of Frauds, John B. Waite
Articles
In Morris v. Baron and Co., (House of Lords, 1917), 87 L. J. R. (K. B.) 145, plaintiff and defendant had entered into a contract of sale and plaintiff, as vendor, had delivered part of the goods agreed upon. Delivery of the remainder would have been a condition precedent to any recovery by the plaintiff. This contract, however, was followed by a second one, not in writing, whereby plaintiff was absolved from delivering the rest of the goods, but by which he agreed that he would deliver them if the defendant should so request. Thereafter plaintiff brought this action for …
Validity Of Contracts Between Corporations Having Common Directors, Harold M. Bowman
Validity Of Contracts Between Corporations Having Common Directors, Harold M. Bowman
Michigan Law Review
Among many who heed the results of the examinations into the methods of trust, corporation and extensive financial activities, there is a conservative belief that improvement is to be secured not by sweeping alterations in legislation, or revolutionary conversions in public opinion, but by persistent and skillful reformation of the detail of law itself. The recommendations of the Armstrong insurance committee of New York bear adequate witness to this fact. But it is interesting to note that most of the recommendations have been addressed to executive and legislative authority, not to the judiciary. This is but natural, considering the purposes …
Contracts Of Sale Of Merchandise--Fraud On The Vendor, Levi T. Griffin
Contracts Of Sale Of Merchandise--Fraud On The Vendor, Levi T. Griffin
Articles
In a former article (May number JOURNAL) fraud in contemplation of law, or legal fraud was considered. It was contended that a false representation, though honestly made and believed to be true, afforded sufficient ground to the vendor for rescinding a con- tract of sale. We now propose to briefly consider character of statements made, with some reference also to representations made to commercial agencies. It may be regarded as within the common knowledge of the profession, that the false representation must be the assertion of a fact, and usually of an existing fact, although the fact may depend upon …
Contracts Of Sale Of Merchandise--Fraud On The Vendor, Levi T. Griffin
Contracts Of Sale Of Merchandise--Fraud On The Vendor, Levi T. Griffin
Articles
This is an interesting topic to every jobbing house, and to every attorney concerned with mercantile collections. The law is pretty well settled on the general subject and the Treatises on Sales are plentiful. Among the best is that of Mr. Benjamin. Tiffany on Sales of the Hornbrook Series recently issued assumes also to state briefly the principles which control in these cases. At large commercial and metropolitan points, and among lawyers who have occasion to often deal with this question, there is perhaps not much difficulty in arriving at correct conclusions, and promptly enforcing the rights of a defrauded …