Michigan Trust Co. v. Chapin
Michigan Supreme Court
Appeal from Montcalm; Dodds, J., presiding. Bill by Seymour B. Gorham, as general assignee of Clarence W. Oliapin and Merrick W. Chapin, against Clarence W. Chapin, Alice B. Chapin, and Jacob Neff, to subject certain lands to the purposes of the assignment. The assignee having resigned, the Michigan Trust Company, as receiver, was substituted as complainant.
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Appeal from Montcalm; Dodds, J., presiding. Bill by Seymour B. Gorham, as general assignee of Clarence W. Oliapin and Merrick W. Chapin, against Clarence W. Chapin, Alice B. Chapin, and Jacob Neff, to subject certain lands to the purposes of the assignment. The assignee having resigned, the Michigan Trust Company, as receiver, was substituted as complainant. From a decree for complainant as against defendants Chapin, but dismissing the bill as to defendant Neff, complainant and defendants Chapin appeal.
1Opinion of the CourtMcGrath, C. J.
Oscar Webber and Clarence W. Chapin had been for many years engaged as partners in banking. They had acquired as such the real estate in question. On the 28th day of December, 1892, they entered into an agreement whereby Webber was to withdraw from the firm, was to receive $6,000, and the new firm of C. W. Chapin & Co., composed of defendant C. W. Chapin and his brother, Merrick W. Chapin, agreed to pay all outstanding indebtedness. On the 17th day of July, 1893, Webber and wife quitclaimed to Alice B. Chapin the lots in controversy. On August 23, 1893, Jacob Neff, a creditor of Webber &…
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