McBride v. Potter-Lovell Co.
Massachusetts Supreme Judicial Court
Bill in equity, filed September 4, 1890, against the PotterLovell Company, the Second National Bank of Boston, and, by amendment, against John Brooks and George S. Bullens, assignees in insolvency of the Potter-Lovell Company, and against the North Star Boot and Shoe Company, and divers other defendants, makers of certain promissory notes, which, with promissory notes made by the plaintiffs, the bill alleged, had been fraudulently pledged by the Potter-Lovell Company as…
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Bill in equity, filed September 4, 1890, against the PotterLovell Company, the Second National Bank of Boston, and, by amendment, against John Brooks and George S. Bullens, assignees in insolvency of the Potter-Lovell Company, and against the North Star Boot and Shoe Company, and divers other defendants, makers of certain promissory notes, which, with promissory notes made by the plaintiffs, the bill alleged, had been fraudulently pledged by the Potter-Lovell Company as security for its own debt to the Second National Bank of Boston. The prayer of the bill was that the assets might be…
1Opinion of the CourtAllen, J.
The Potter-Lovell Company, a corporation, held certain notes of the plaintiffs for sale, and it was to remit to them the proceeds, less its commissions for selling the same. The Potter-Lovell Company also held notes of others of the defendants, which it had received from them for sale. Instead of selling the above mentioned notes for the benefit of the several makers, the company at different times wrongfully and fraudulently pledged all of them to the Second National Bank as security for its own debts to said bank, all the notes being pledged for the same debts. The bank, being a bona fide…
2Cases cited3 opinions
- New England Trust Co. v. New York Belting & Packing Co.Massachusetts Supreme Judicial Court · 1896
- American Loan & Trust Co. v. Northwestern Guaranty Loan Co.Massachusetts Supreme Judicial Court · 1896
- Gould v. Central Trust Co.New York Supreme Court · 1879
3Cited by17 opinions
- Sowell v. Federal Reserve Bank of DallasSupreme Court of the United States · 1925
- Hewitt v. HayesMassachusetts Supreme Judicial Court · 1910
- Furber v. DaneMassachusetts Supreme Judicial Court · 1909
- Nissenberg v. FellemanMassachusetts Supreme Judicial Court · 1959
- Seronick v. LEVY SCHONFELDMassachusetts Appeals Court · 1988
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