Howe v. Morse
Massachusetts Supreme Judicial Court
Bill in equity, filed October 4, 1897, against Charles W. Morse, Lola C. Sprague, and Martin Taylor, praying for the liquidation of the affairs of the Daggett Building Association, for an account, for a receiver, and for an injunction. Lola C. Sprague alone defended. At the hearing before Holmes, J., the first four paragraphs of the bill were not controverted, and the judge found them to be true.
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Bill in equity, filed October 4, 1897, against Charles W. Morse, Lola C. Sprague, and Martin Taylor, praying for the liquidation of the affairs of the Daggett Building Association, for an account, for a receiver, and for an injunction. Lola C. Sprague alone defended. At the hearing before Holmes, J., the first four paragraphs of the bill were not controverted, and the judge found them to be true. The allegations were that James H. Carleton, who died in March, 1893, and under whose will the plaintiffs were trustees, was the owner of one hundred shares in the capital stock of the Daggett…
1Opinion of the CourtBarker, J.
While the purpose of the association is to hold, use, and sell land, and the scheme of organization closely follows that of a corporation, and corporations to buy and sell land can be chartered only by special act of the Legislature, this is not a proceeding to restrain or to put an end to the usurpation of corporate franchises. Indeed, as was said in Phillips v. Blatchford, 187 Mass. 510, “ It is too late to contend that partnerships with transferable shares are illegal in this Commonwealth.”
Is the trust void as creating a perpetuity, or imposing an illegal *503restraint upon alienation ? The…
2Cases cited1 opinion
- Winsor v. MillsMassachusetts Supreme Judicial Court · 1892
3Cited by14 opinions
- State Street Trust Co. v. HallMassachusetts Supreme Judicial Court · 1942
- Andrews v. Tuttle-Smith Co.Massachusetts Supreme Judicial Court · 1906
- Peabody v. Treasurer & Receiver GeneralMassachusetts Supreme Judicial Court · 1913
- Lembeck v. LembeckNew Jersey Court of Chancery · 1907
- Hodgkiss v. Northland Petroleum ConsolidatedMontana Supreme Court · 1937
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