Legal Opinion

Insurance Co. v. Union Canal Co.

Philadelphia Court of Nisi Prius

Decided January 15, 1843Published

In Equity. Bill for specific performance, by the Insurance Company of North America et al. against the Union Canal Company et al.

1Opinion of the Court

The opinion of the court was delivered by

Gibson, C. J.: —

I am asked to compel the company to execute a mortgage of its works to the complainants, or declare the latter to be entitled to a preference under the mortgage executed to Mr. Roberts in trust for the general creditors; to decree that the company pay the complainants the whole of their principal and interest in preference to any other class of its creditors; that it come to an account of the tolls received, and apply the tolls which may accrue to the interest due to the complainants; that it be restrained, in the mean time, from…

2Cases cited2 opinions

  1. Pennock v. FreemanSupreme Court of Pennsylvania · 1833
  2. Jenks v. FritzSupreme Court of Pennsylvania · 1844

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