EQUITY - SPECIFIC PERFORMANCE OF CONTRACT TO LEND MONEY

Authors

Robert C. Lovejoy, University of Michigan Law SchoolFollow

Abstract

Plaintiff, through the Mortgage Service Bureau, which acted as intermediary, negotiated a loan from defendant bank, secured by a mortgage on plaintiff's land. Plaintiff executed and delivered notes and a mortgage, and defendant drew a check for one of the loan installments payable to plaintiff and the bureau, The latter without authority took the check, forged plaintiff's signature, and kept the money. The bureau being out of business and insolvent, plaintiff, with an unfinished house on his hands and without funds to complete it, sought specific performance of the agreement to lend. Held, plaintiff was entitled to specific performance, and defendant was required to pay the money to plaintiff. Jacobson v. First National Bank of Bloomingdale, 129 N. J. Eq. 440, 20 A. (2d) 19 (1941).

Recommended Citation

Robert C. Lovejoy, EQUITY - SPECIFIC PERFORMANCE OF CONTRACT TO LEND MONEY, 40 Mich. L. Rev. 303 (1941).
Available at: https://repository.law.umich.edu/mlr/vol40/iss2/15