Railroad Co. v. Swasey
Supreme Court of the United States
On motion to dismiss, for want of jurisdiction, as not “final,” an appeal from the Circuit Court for the Eastern. District of North Carolina.
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On motion to dismiss, for want of jurisdiction, as not “final,” an appeal from the Circuit Court for the Eastern. District of North Carolina. The case was thus: The State of North Carolina by acts of her legislature passed in January, 1849, and 1855, subscribed for stock in the North Carolina Railroad Compauy, of the par value of $3,000,000. To pay for this stock she borrowed money and issued her bonds and certificates of debt with coupons for interest, redeemable in thirty years, with interest, payable semi-annually. In the laws authorizing these subscriptions and loans, she pledged and…
1Opinion of the Court
The CHIEF JUSTICE
delivered the opinion of the court.
An appeal may be taken from a decree of foreclosure and sale when the rights of the parties have all been settled and nothing remains to be done by the court but to make the sale and pay out the proceeds. This has long been settled. ǁ The sale in such a case is the execution of the decree. By means of it the rights of the parties, as settled, are enforced.
But to justify such a sale, without consent, the amount due upon the debt must be determined and the property to be sold ascertained and defined. Until this is done the rights of the…
2Cases cited2 opinions
- WHITING v. the Bank of the United StatesSupreme Court of the United States · 1839
- Ray v. LawSupreme Court of the United States · 1805
3Cited by42 opinions
- Ex Parte PetersonSupreme Court of the United States · 1920
- McGourkey v. Toledo & Ohio Central Railway Co.Supreme Court of the United States · 1892
- Chicago & Vincennes Railroad v. FosdickSupreme Court of the United States · 1882
- Compton v. JesupCourt of Appeals for the Sixth Circuit · 1895
- Grant v. Phoenix Ins. Co.Supreme Court of the United States · 1882
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