Foote & Stone v. Emerson
Supreme Court of Vermont
This was an action of book account, in which judgment to account had been rendered in the county court, and auditors appointed, who reported ;-— That the defendant and Luther Foote, one of the plaintiffs were formerly co-trustees of Susan M. Grosman, a minor, and, in that capacity, had the control and management of an estate, belonging to the cestui que trust, amounting to $ 10,000; that Foote & Emerson had been partners in trade, and had employed a portion of the trust-fund…
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This was an action of book account, in which judgment to account had been rendered in the county court, and auditors appointed, who reported ;-— That the defendant and Luther Foote, one of the plaintiffs were formerly co-trustees of Susan M. Grosman, a minor, and, in that capacity, had the control and management of an estate, belonging to the cestui que trust, amounting to $ 10,000; that Foote & Emerson had been partners in trade, and had employed a portion of the trust-fund in their business; that the defendant sold out his interest in the partnership to the plaintiffs, and, at the time of…
1Opinion of the Court
The opinion of the Court was delivered by
Phelps, J.
This case turns upon the effect, which we shall give to the contract, by which the plaintiffs undertook to pay to the defendant, in goods out of their store, the sum of one hundred and fifty dollars, annually, for three years, *342as a consideration for his permitting them to use the trust-fund, which the defendant and one of the plaintiffs held as trustees.
The plaintiffs insist that this contract was void — 1st, by virtue of the statute of frauds, and 2dly, as within the statute of usury. They insist further, that, notwithstanding the delivery…
2Cited by9 opinions
- Jarnigan v. FlemingMississippi Supreme Court · 1871
- Parks v. Francis's AdministratorSupreme Court of Vermont · 1878
- Boyum v. JordanSupreme Court of Minnesota · 1920
- Central Branch Union Pacific Railroad v. Western Union Telegraph Co.United States Circuit Court · 1880
- Dickson v. City of St. PaulSupreme Court of Minnesota · 1908
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