CONTRACTS - ASSIGNMENT - AUTHORITY TO PAY OUT OF A PARTICULAR FUND

Authors

Michigan Law Review, University of Michigan Law School

Abstract

Plaintiff had a contract to receive a commission from the defendant based on the number of shares of stock sold by the defendant. Plaintiff subsequently made an agreement with Gray in which it was stipulated, "that the first $2,500 received by the said George Allardyce [plaintiff] shall be given to John C. Gray, and the said George Allardyce hereby gives the said Dart & Company [defendant] authority to issue a check to John C. Gray in that amount." Because the state securities commission authorized fewer shares of stock for sale than was anticipated, plaintiff's commission amounted to only $2,250. Defendant's affirmative defense to the action by plaintiff to recover his commission was that plaintiff was not the real party in interest by reason of his "assignment" to Gray. Held, plaintiff is the real party in interest and is entitled to recover because the written order plaintiff gave to Gray cannot be held to be an assignment Allardyce v. Dart, 291 Mich. 642, 289 N. W. 281 (1939).

Recommended Citation

Michigan Law Review, CONTRACTS - ASSIGNMENT - AUTHORITY TO PAY OUT OF A PARTICULAR FUND, 38 Mich. L. Rev. 1091 (1940).
Available at: https://repository.law.umich.edu/mlr/vol38/iss7/12