Cox v. New Bern Lighting & Fuel Co.
Supreme Court of North Carolina
Appeal from 0. Ii. Allen, J., November Term, 1908, of Cba-VEN. The plaintiff, being a stockholder of the New Bern Lighting and Fuel Company, hereinafter called the gas company, a corporation, instituted this action in behalf of himself and all creditors of the corporation, alleging the insolvency of the defendant corporation. Upon the demand of the plaintiff, a receiver was appointed to wind up its affairs.
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Appeal from 0. Ii. Allen, J., November Term, 1908, of Cba-VEN. The plaintiff, being a stockholder of the New Bern Lighting and Fuel Company, hereinafter called the gas company, a corporation, instituted this action in behalf of himself and all creditors of the corporation, alleging the insolvency of the defendant corporation. Upon the demand of the plaintiff, a receiver was appointed to wind up its affairs. The court directed the receiver to advertise for claims against the defendant, and authorized and directed said receiver to determine the priority of all claims which were contended to be…
1Opinion of the Court
MANNING, J.,
after stating tbe facts: In our opinion, the judgment of his Honor cannot be sustained upon the facts found by him. After a careful consideration of the authorities cited by the learned counsel appearing before us, and the consideration of other authorities our own researches have found, we think a very clear statement of the principle controlling one feature of this case is found in Jones on Chattel Mortgages (5th Ed.), sec. 133a, as follows: “One holding a mortgage of the realty has no equitable claim to chattels subsequently annexed to it. He has parted with nothing on the…
2Cases cited13 opinions
- United States v. New Orleans RailroadSupreme Court of the United States · 1871
- Ford v. . CobbNew York Court of Appeals · 1859
- Tifft v. . HortonNew York Court of Appeals · 1873
- Potter v. . CromwellNew York Court of Appeals · 1869
- Binkley v. ForknerIndiana Supreme Court · 1889
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3Cited by9 opinions
- Beatrice Creamery Co. v. SylvesterSupreme Court of Colorado · 1919
- Standard Dry-Kiln Co. v. EllingtonSupreme Court of North Carolina · 1916
- Weisenberger v. Lone Star Gas Co.Court of Appeals of Texas · 1953
- Southwestern Public Service Co. v. SmithCourt of Appeals of Texas · 1929
- Layne Central Co. v. Gulf Coast Ice Co.Mississippi Supreme Court · 1934
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