Nichols v. Rogers
Massachusetts Supreme Judicial Court
Bill in equity, filed May 16, 1883, alleging that, on December 26, 1881, the owners of a certain mine in Arizona executed a bond to one Dowley to convey the mine to him, on or before March 1, 1882, for $50,000; that on January 18, 1882, Dowley assigned the bond to William H. Nichols, the time of payment of the purchase money being extended to January 1, 1883 ; that on March 13, 1882, William H. Nichols agreed to sell one fifth of said mine and of said bond to the plaintiff,…
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Bill in equity, filed May 16, 1883, alleging that, on December 26, 1881, the owners of a certain mine in Arizona executed a bond to one Dowley to convey the mine to him, on or before March 1, 1882, for $50,000; that on January 18, 1882, Dowley assigned the bond to William H. Nichols, the time of payment of the purchase money being extended to January 1, 1883 ; that on March 13, 1882, William H. Nichols agreed to sell one fifth of said mine and of said bond to the plaintiff, one fifth to the defendant, one fifth to one Saunders, and two fifths to other persons, the plaintiff making payment on…
1Opinion of the CourtC. Allen, J.
The bill in this case was filed in less than six months after the date of the agreement. It may be assumed, since it is not disputed, that under the agreement the defendant became a trustee, and that he is, or at a proper time will be, accountable as such. But the agreement vested in him large powers and a wide discretion, and fixed no time within which the trust should be executed. The service which the defendant assumed might well require considerable time for its successful performance. The bill as originally drawn contains no averment that a reasonable time has elapsed, or that the…
2Cases cited2 opinions
- Milner v. MilnerNew York Court of Chancery · 1833
- Seamans v. GibbsMassachusetts Supreme Judicial Court · 1882
3Cited by17 opinions
- Marsch v. Southern New England RailroadMassachusetts Supreme Judicial Court · 1918
- City of Boston v. Treasurer & Receiver GeneralMassachusetts Supreme Judicial Court · 1921
- Sampson v. SampsonMassachusetts Supreme Judicial Court · 1916
- Warren v. Para Rubber Shoe Co.Massachusetts Supreme Judicial Court · 1896
- Nye v. StorerMassachusetts Supreme Judicial Court · 1897
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