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Reports of Cases Decided in the Appellate Court of the State of Indiana (Volume 55)

Reports of Cases Decided in the Appellate Court of the State of Indiana (Volume 55)


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About the Book

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1915. Excerpt: ... Adam.s r. Union Nat. Say., etc., Assn.--55 Incl. Api-. 676. to the administration of the law. The strength of every contract lies in the power of the promisee to appeal to the courts of public justice for redress for its violation. The administration of justice is maintained at the public expense. The courts will never, therefore, recognize any transaction which, in its object, operation or tendency is calculated to be prejudicial to the public welfare." Greenhood, Public Policy 2. It is often said that public policy is the policy of the law, and when we refer to what may be termed the public policy of a state, we mean the law of the state as expressed in its constitution and statute laws. The section of the statute last cited above, giving a positive right to appellant to pay his loan at any time and withdraw his stock, is a plain and definite expression of the legislature upon that subject, there is nothing uncertain about its provisions, and when construed in the light of all previous legislation upon the same subject, there can be no doubt as to what the legislature intended when the present law was enacted. The evident purpose of the law was to enable a borrowing member of a building and loan association to pay off his loan and withdraw his stock at any time before maturity when he was prepared to pay the amount due the association, and a nonborrower to withdraw his stock upon three months' notice. Such a statute ought not to be permitted to become valueless by any by-law of such association, or by any contract which it might exact. The statute in such case must be held to control, and not the contract, whatever its provisions may be. In other words the contract and by-laws of the association must be molded to conform to the statute and the dire...


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Product Details
  • ISBN-13: 9781150120121
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 304
  • Spine Width: 16 mm
  • Width: 189 mm
  • ISBN-10: 1150120126
  • Publisher Date: 01 Feb 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 544 gr


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Reports of Cases Decided in the Appellate Court of the State of Indiana (Volume 55)
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