Phelps v. Masterton, Smith & Sinclair Dressing Co.
The Superior Court of New York City
This action was brought by the plaintiff as assignee of Ulysses B. Brewster, to recover of the defendant Ward, as sole acting executor of Robert Smith, deceased, and of the defendants “ The Masterton, Smith & Sinclair Stone Dressing Company,” one eleventh of the proceeds of the sale by Smith to the latter, of the property of “ The Empire Stone Dressing. Company,” whereof Brewster (the plaintiff’s assignor) had been a stockholder, and owned one eleventh of the stock.
Read the full summary
This action was brought by the plaintiff as assignee of Ulysses B. Brewster, to recover of the defendant Ward, as sole acting executor of Robert Smith, deceased, and of the defendants “ The Masterton, Smith & Sinclair Stone Dressing Company,” one eleventh of the proceeds of the sale by Smith to the latter, of the property of “ The Empire Stone Dressing. Company,” whereof Brewster (the plaintiff’s assignor) had been a stockholder, and owned one eleventh of the stock. In July, 1854, The Empire Stone Dressing Company transferred all its property to the testator, Robert Smith, for the nominal…
1Opinion of the Court
By the Court, Monell, J.
This case presents the unusual phase of two judgments in one action ; one in favor of the plaintiff against one of the defendants, and the other in favor of a defendant against the same co-defendant. The appeal is from both judgments.
I will first consider the appeal from the plaintiff’s judgment. On the sale by Smith, the trustee, to “ The Masterton, Smith & Sinclair Stone Dressing Company,” the latter paid to Smith one hundred thousand dollars of the purchase money, retaining in their hands ten thousand dollars, which, the justice has found, was retained to be…
2Cited by1 opinion
- Weld v. PetersSupreme Court of Louisiana · 1846