Briggs v. Palmer
New York Supreme Court
THIS was an appeal, by the defendant, from a judgment entered at a special term. The relief demanded by the complaint was that the defendant be directed to release and discharge certain premises from the lien and operation of a mortgage thereon, executed by Cornelius Hasten and wife to Joseph D. Beers, president of the North American Trust and Banking Company, on the 1st of November, 1838; and that he, and all persons claiming an interest in said mortgage subsequent to the…
Read the full summary
THIS was an appeal, by the defendant, from a judgment entered at a special term. The relief demanded by the complaint was that the defendant be directed to release and discharge certain premises from the lien and operation of a mortgage thereon, executed by Cornelius Hasten and wife to Joseph D. Beers, president of the North American Trust and Banking Company, on the 1st of November, 1838; and that he, and all persons claiming an interest in said mortgage subsequent to the commencement of this action be perpetually enjoined from foreclosing' the same, or enforcing the lien thereof against the…
1Opinion of the Court
By the Court, Johnson, J.
The assignees of Hasten held the real estate in question in trust to sell for the benefit of creditors. The trust was expressed in the assignment, by which the estate was created, and vested in the assignees, and is one authorized by statute. The assignees, the moment they took the assignment, became trustees for the creditors, with power to sell and convey the real estate for their benefit, but with no power to convey for any other object or purpose, so long as the trust created remained undischarged. The statute declares that every conveyance made in contravention…
2Cited by2 opinions
- People, Ex Rel. Short v. . BaconNew York Court of Appeals · 1885
- Acer v. WestcottNew York Supreme Court · 1869