Guardian Trust & Deposit Co. v. Fisher
Supreme Court of the United States
CERTIORARI TO THE CIRCUIT COURT OF APPEALS FOR THE FOURTH CIRCUIT. Section 1255 of the Code of North Carolina of 1883 reads: “Mortgages of incorpórate companies upon their property or earnings, whether in bonds or otherwise, hereafter, issued, shall not have power to exempt the property or earnings of such incorporations from execution for the satisfaction of any judgment obtained in the courts of the State against such incorporation, for labor performed [nor for material…
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CERTIORARI TO THE CIRCUIT COURT OF APPEALS FOR THE FOURTH CIRCUIT. Section 1255 of the Code of North Carolina of 1883 reads: “Mortgages of incorpórate companies upon their property or earnings, whether in bonds or otherwise, hereafter, issued, shall not have power to exempt the property or earnings of such incorporations from execution for the satisfaction of any judgment obtained in the courts of the State against such incorporation, for labor performed [nor for material furnished such incorporation], nor for torts committed by such incorporation, its agents or employés, whereby any person…
1Opinion of the CourtJustice Brewer
It is contended that neither the plaintiff in the pending suit nor the bondholders whom it represents were parties or privies to the actions in the state court; that therefore the judgments of the latter court were not conclusive in the foreclosure proceeding as to the nature of the causes of action; that whether they were for torts or breaches of contract is for the determination of the Federal court, and further, that when the property passed from, the old to the new water company it passed subject to the fifty-thousand dollar mortgage, and that under this statute, if applicable at all,…
2Cited by40 opinions
- H. R. Moch Co. v. Rensselaer Water Co.New York Court of Appeals · 1928
- German Alliance Insurance v. Home Water Supply Co.Supreme Court of the United States · 1912
- Clay Elec. Co-Op., Inc. v. JohnsonSupreme Court of Florida · 2003
- CIT Corporation v. United StatesCourt of Appeals for the Fourth Circuit · 1936
- Ancrum v. Camden Water, Light & Ice Co.Supreme Court of South Carolina · 1909
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