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Commercial Instruments, The Law Merchant And Negotiability, Ralph W. Aigler

Articles

“Until recently apparently no serious attempt had been to make a comprehensive examination into the origins and history of commercial instruments or to explain the special doctrines attached to negotiability….

“The bill of exchange, it is said, developed as a bit of machinery to give effect to the medieval contract of cambium which was concerned with the special case of the exchange of money for money. With the growth of foreign trade the difficulties and dangers of payments multiplied. Naturally those whose business it was to exchange monies were resorted to in this connection. They, in turn, out of necessities …

Interest On Claims In Receivership Proceedings, Ralph E. Clark

Michigan Law Review

Outside the cases of receivership, the Supreme Court of the United States has said: "We reach the conclusion that whatever may have been the English and early American rule, the tendency in Virginia as elsewhere in this country, is to allow interest on contracts to pay money from the date that the debt becomes due."'

Termination Of A Continuing Guaranty, Edgar N. Durfee

Articles

Several persons jointly and severally guaranteed to a bank the present and future obligations of a customer, stipulating that "the bank may grant extensions without lessening the liability" of the guarantors, that "this shall be a continuing guaranty, and shall cover all the liabilities which the customer may incur or come under until the undersigned, or the executors or administrators of the undersigned, shall have given the bank notice in writing to make no further advances on the security of this guaranty," and that "this guaranty shall not be affected by the death of the undersigned." One of the guarantors …

Bill Of Lading As Collateral Security Under Federal Laws, Frederick Thulin

Michigan Law Review

The desirability of the bill of lading as collateral security has been recognized in business transactions for many decades. The foregoing fact arises from the inherent nature of the financing of transactions of foreign or domestic trade.

Recent Important Decisions, Michigan Law Review

Michigan Law Review

Adverse Possession--Hostile Character--Possession Under Executory Contract for Sale; Bills and Notes--Bona Fide Purchase--Effect of Taking After Maturity; Bills and Notes--Bona Fide Purchase--Payment of Forged Check--Recovery of Payment; Bills and Notes--Invalidity of Note--Recovery Upon Original Consideration; Constitutional law--Due Process of Law--Situs of Ship for Purposes of Taxation; contracts--Sufficiency of Typewritten Signature; Copyright--Moving Pictures as Dramatization of Book; Corporations--Stockholder's Meetings--Effect of Withdrawal of Stockholders; Courts--The New Commerce Court--Jurisdiction--First Decision; Covenants Running with the Land--Building Restrictions; Damages--Excessiveness--Personal Injuries--Remittitur; Dead Bodies--Burial Determination of Place; Easements--Merger--Use by Owner of Servient Estate--Adverse Possession; Homicide--Burden of Proof When Insanity is a Defense; Intoxicating Liquors--Illegal Sale--"Dispensing"; Judgment--Collateral Attack--Defective …

Note And Comment, Paul S. Dubuar, Arthur Clarke, J. Fred Bingham, Dan B. Symons, Lloyd T. Crane

Michigan Law Review

Effect of Taking Possession of Mortgaged Property Under a Chattel Mortgage as Against a Junior Mortgagee; The Effect of the Reunion of the Cumberland Presbyterian Church With the Presbyterian Church in the United States of America Upon the Property of the Former; The Exclusive Use of Part of Railroad Station Grounds by Hackmen; Conflict of Jurisdiction in Bankruptcy Cases Between Federal and State Courts; Right of the Legislature to Amend Corporate Charters Under the Reserved Power; Can A Purchaser From a Tenant Acquire Title by Adverse Possession?; Can a Mortgagor After the Execution of the Mortgage Create an Easement in …

The Position Of A Trustee In Bankruptcy With Reference To Unfiled Or Unrecorded Chattel Mortgages And Conditional Sale Contracts, Ralph W. Aigler

Michigan Law Review

Since the enactment of the first bankruptcy act the courts have very frequently been called upon to consider the precise position of the trustee in bankruptcy, with reference to his ability to raise the question of the invalidity of transfers or liens made or created by the bankrupt prior to the proceedings in bankruptcy. The phase of this question indicated by the title of this article is possibly of more interest than the rest of the general subject, because of the changes, or to be more exact, the supposed changes, through which the law has passed. And if the law …

Note And Comment, Harry B. Hutchins, Edson R. Sunderland

Michigan Law Review

What is the Practice of Medicine?; The Extent of the Land to Which a Mechanics' Lien Attaches; May a Murderer Acquire Property From His victim by Descent or Devise?; One Way to Prevent Some of the "Law's Delays";

Recent Important Decisions, Michigan Law Review

Michigan Law Review

Bankruptcy--Concealment of Property--Bankruptcy Schedules Inadmissible Against Bankrupt on Trial for Concealing Property; Bankruptcy--Jurisdiction--Recovering Excessive Counsel Fees; Bills and Notes--Extension of Time of Payment--Release of Lien of Trust Deed; Carriers--Error in Ticket--Ejection of Passenger; Carriers--Free Pass Within Statutory Prohibition; Constitutional Law--Judgment of Sister State--Full Faith and Credit; Corporations--Promoters--Sales to Corporation; Discovery--Personal In juries--Power of Court to Compel Physical Examination of Plaintiff; Divorce--Defense--Connivance; Elections--Primary Elections--Canvassing of Votes; Eminent Domain--Interest on Award Against the Government; Eminent Domain--"Private Property"--Owner's Remedy--Injunction; Evidence--Burden of Proof--Fraudulent Conveyances; Fire Insurance--Forfeiture of Policies--"Other Insurance"; Insurance--Subrogation--Accident Insurance; Judgment--Conclusiveness of Decision of United States Commissioner on Collateral Attack; Master and Servant--Disobedience …

Effect Of Foreign Chattel Mortages Upon The Rights Of Subsequent Purchasers And Creditors, Marion Griffin

Michigan Law Review

Should the title or lien of a foreign mortgagee be protected against the claims of creditors and innocent purchasers in the state to which the mortgaged property is removed? It is sometimes said that the chattel mortgage creates a mere lien by the law of the state where made, which is not entitled to recognition in any other state. The weight of authority is otherwise. It is a transfer of the, property itself as a security for the debt. There are some states in which a mortgage of personal property creates no title in the mortgagee, but a mere lien; …

Selected Cases On The Law Of Negotiable Instruments, Robert E. Bunker

Books

The cases appearing in this volume have been selected primarily for the use of students pursuing the study of Negotiable Instruments and particularly for students in the Law Department of the University of Michigan. They are arranged in order to conform to the plan of instruction now pursued in that Department. The plan to which reference is made is sufficiently indicated by the Table of Contents infra. In brief, it involves a study of the law of Negotiable Instruments on the basis of the contract of the several parties as that law has been declared by the courts and, …

The Negotiable Instruments Law With Annotations, Robert E. Bunker

Books

"The Negotiable Instruments Law was enacted by the Legislature of Michigan at its 1905 session and on this 16th day of September, 1905, becomes a law of the State.

Soon after the approval of the Act -- June 16, 1905, -- I undertook the work of annotating the statute and of explaining its origin, scope and purpose in such particulars as seemed to invite explanation....

I submit the result of my work -- undertaken in the hope that it might help the profession and the bankers and the business men in dealing with this statute -- to all who may …

Foreign Voluntary Assignments For The Benefit Of Creditors, Edson R. Sunderland

Articles

AlI laws concerning property rights are based upon the broad - doctrine that every person who owns property may dispose of the same as he sees fit. The right of disposal of property is inseparably united to the right of property itself, and indeed is an essential element of the concept of property. It might even serve as a definition of property, viewing property as that which one may dispose of,-a definition too general, it is true, for practical purposes, but undoubtedly a correct and valuable metaphysical theorem