Matter of Accounting of Morgan
New York Court of Appeals
Appeal from order of the General Term of the Supreme Court, in the fourth judicial department, made October 8, 1884, which affirmed an order of the County Court of Herkimer county, the nature of which is hereinafter stated. (Reported below, 34 Hun, 217.) In 1881, the firm of Fonda & Clark made a general assignment for the benefit of creditors to Kendrick E. Morgan. The assignment contained various classes of preferences.
Read the full summary
Appeal from order of the General Term of the Supreme Court, in the fourth judicial department, made October 8, 1884, which affirmed an order of the County Court of Herkimer county, the nature of which is hereinafter stated. (Reported below, 34 Hun, 217.) In 1881, the firm of Fonda & Clark made a general assignment for the benefit of creditors to Kendrick E. Morgan. The assignment contained various classes of preferences. In the seventh class were certain notes held by the National Herkimer County Bank. In the eighth class of preferences was a claim of the firm of Schoellkopf & Matthews, of…
1Per curiam
By the assignment to him Morgan became the trustee of the creditors of Fonda and Clark, and the National Herkimer County Bank was one of the beneficiaries of the trust. That bank was equitably entitled to the $906.25, which the trustee by mistake paid to the appellants. That sum should have been paid to it and the appellants had no right to receive it, and no legal, equitable or just right to retain it. The trustee having made the payment by mistake could have compelled the appellants by a suitable action to return the money to him. ( Walker v. Hill, 17 Mass. 380; Lupton v. Lupton, 2 Johns.…
2Cases cited1 opinion
- Lupton v. LuptonNew York Court of Chancery · 1817
3Cited by16 opinions
- In Re the Accounting of UnderhillNew York Court of Appeals · 1889
- Martin v. United States Trust Co. of New York, Texas Court of Appeals, 5th District (Dallas)1985
- In Re the Accounting of SheldonNew York Court of Appeals · 1903
- In re General Assignment for the Benefit of Creditors of Premier Container Corp.New York Supreme Court · 1978
- Goldman v. Staten Island Nat. Bank & Trust Co.Court of Appeals for the Second Circuit · 1938
11 more not listed; retrieve them via the Exa API.