Rand v. Nesmith
Supreme Judicial Court of Maine
On EXCEPTIONS. Assumpsit to recover for land sold by defendant, the title to which he held in trust for plaintiff. That the defendant originally acquired an interest in the premises, to be held for some period in trust, either for the plaintiff or for his father (Bradbury Rand), was not denied, though it was contended the trust had determined and the estate become absolute in Nesmith.
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On EXCEPTIONS. Assumpsit to recover for land sold by defendant, the title to which he held in trust for plaintiff. That the defendant originally acquired an interest in the premises, to be held for some period in trust, either for the plaintiff or for his father (Bradbury Rand), was not denied, though it was contended the trust had determined and the estate become absolute in Nesmith. Bradbury Rand conveyed to the plaintiff in 1856, by quit-claim deed, all his interest in the property, to be held according to the trust, of which there was no written declaration, but which was implied from the…
1Opinion of the CourtAppletoN, C. J.
It appears from the evidence that the plaintiff and defendant entered into' an agreement by virtue of which the plaintiff was to procure title to certain real estate, the defendant was to advance the funds for its purchase, the estate purchased was to be conveyed to the defendant to hold the same as security for advances made in its purchase, and for other claims which he held against the plaintiff and interest thereon; the defendant was to hold the estate (subject to his claims thereon) in trust for the plaintiff, and if sold, to account to him for the proceeds thereof, after deducting what…
2Cited by1 opinion
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