Cronan v. Cotting
Massachusetts Supreme Judicial Court
Contract for money had and received; to recover the balance of the proceeds of accepted bills of exchange delivered by the plaintiff to the defendant with directions to collect them and apply to the payment of debts owing from him to the estate of her husband, of which she was administratrix, so much of their proceeds as should be necessary for that purpose.
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Contract for money had and received; to recover the balance of the proceeds of accepted bills of exchange delivered by the plaintiff to the defendant with directions to collect them and apply to the payment of debts owing from him to the estate of her husband, of which she was administratrix, so much of their proceeds as should be necessary for that purpose. Trial, and verdict for the plaintiff, in the superior court, before Brigham, J., who allowed exceptions which were argued and overruled in this court at March term 1868, as reported 99 Mass. 334. After the argument of the exceptions, and…
1Opinion of the CourtWells, J.
The provision of the bankrupt act of 1867, upon which the plaintiff relies, is “ that no debt created by the fraud or embezzlement of the bankrupt, or by his defalcation as a public officer, or while acting in any fiduciary character, shall be discharged,” &c. It is argued that the deposit of the securities made the defendant a trustee for the owner; first, to apply the proceeds, so far as required, to the payment of the debt due to the estate of which she was the administratrix; second, to return the balance, if any, to the depositor; and that this trust constituted a fiduciary relation,…
2Cases cited2 opinions
- Chapman v. Forsyth & LimerickSupreme Court of the United States · 1844
- Tucker v. OxleySupreme Court of the United States · 1809
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- Upshur v. BriscoeSupreme Court of the United States · 1891
- Hennequin v. ClewsSupreme Court of the United States · 1884
- Spinoso v. Heilman (In Re Heilman)United States Bankruptcy Court, D. Maryland · 1999
- Discount Home Center, Inc. v. Turner (In Re Turner)United States Bankruptcy Court, N.D. Oklahoma · 1991
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