Nay Aug Lumber Co. v. Scranton Trust Co.
Supreme Court of Pennsylvania
Appeal, No. 397, Jan. T., 1912, by plaintiff, from decree of C. P. Lackawanna Co., June Term, 1911, No. 1, in equity, dismissing bill in case of Nay Aug Lumber Company, et al., v. Scranton Trust Company, and Scranton Trust Company, Trustee. Bill in equity to set aside sheriff’s sale and enjoin resale of property. Before Newcomb, J. The opinion of the Supreme Court states the facts. The court dismissed the plaintiff’s bill. Error assigned was the decree of the court.
1Opinion of the Court
Opinion by
Ms. Justice Potter,
The first question raised by this appeal is as to the right of a trustee in a mortgage to buy in the property for the benefit of the bondholders. From the facts as found by the court below it appears that on March 1, 1907, the Scranton Driving and Field Association, a corporation, executed and delivered to the Scranton Trust Company, a mortgage upon the real estate of the association in Lackawanna Township, Lackawanna County, comprising some thirty-two acres of land with the improvements thereon. The mortgage ivas given to secure an isssue of $25,000'of bonds. It…
2Cases cited5 opinions
- Commonwealth v. Susq. & Del. River R.Supreme Court of Pennsylvania · 1888
- James v. . CowingNew York Court of Appeals · 1880
- Yerkes v. RichardsSupreme Court of Pennsylvania · 1895
- Church v. WintonSupreme Court of Pennsylvania · 1900
- Gumaer v. BarberSupreme Court of Pennsylvania · 1897
3Cited by23 opinions
- Smith v. Massachusetts Mutual Life Ins.Supreme Court of Florida · 1934
- Detroit Trust Co. v. Stormfeltz-Loveley Co.Michigan Supreme Court · 1932
- Chicago Title and Trust Co. v. RobinIllinois Supreme Court · 1935
- Straus v. Chicago Title & Trust Co.Appellate Court of Illinois · 1933
- Silver v. Wickfield Farms, Inc.Supreme Court of Iowa · 1929
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