Coster's Ex'rs v. Bank of Georgia
Supreme Court of Alabama
ERROR to tbe Chancery Court of Russell. Heard before the Hon. W. W. Mason. The facts upon which the complainant’s original bill was filed may be thus briefly stated: In 1836, a company was formed, consisting of James Hamilton, James L. Pettigru, J. C. Vaughan, John G. Coster, and A. E. & C. Hexier.
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ERROR to tbe Chancery Court of Russell. Heard before the Hon. W. W. Mason. The facts upon which the complainant’s original bill was filed may be thus briefly stated: In 1836, a company was formed, consisting of James Hamilton, James L. Pettigru, J. C. Vaughan, John G. Coster, and A. E. & C. Hexier. The objects of the association were, originally, to buy and sel Hands on speculation, but afterwards the company engaged in the cultivation of cotton, and this formed a part of its regular business. The original intentions of the associates were, to confine the operations of the association to…
1Opinion of the CourtGibbons, J.
As the claim of Joseph Washburn is the one first arising upon the present record, we deem it proper to dispose of it before proceeding to the consideration of the other claims presented. The lien set up by Washburn is what is usually termed a vendor’s lien for the purchase money of real estate sold, but the purchase money of which still remains due and unpaid. This is sometimes termed an equitable mortgage, in favor of the vendor, in order to enable him to realize the payment of the money for which he agreed to part with his property.
It may safely be assumed as a principle, that the assignee…
2Cases cited4 opinions
- Erwin v. FergusonSupreme Court of Alabama · 1843
- Houston v. StantonSupreme Court of Alabama · 1847
- Walker v. Bank of MobileSupreme Court of Alabama · 1844
- Berry v. Mutual InsuranceNew York Court of Chancery · 1817
3Cited by28 opinions
- Penton v. Brown-Crummer Inv. Co.Supreme Court of Alabama · 1930
- Snyder v. MartinWest Virginia Supreme Court · 1880
- Donald & Co. v. HewittSupreme Court of Alabama · 1859
- Stringfellow v. IvieSupreme Court of Alabama · 1882
- Ferguson v. StateSupreme Court of Alabama · 1901
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