Morehead Banking Co. v. Whitaker
Supreme Court of North Carolina
Civil actiost, tried at October Term, 1891, of Durhaji Superior Court, Winston, J., presiding. This is a creditor’s action brought against the defendant Whitaker their debtor, and V. Ballard, the trustee of a deed trust executed on the 12th of January, 1891, whereby the said Whitaker conveyed to him all his real and personal property, consisting of land, goods in store, rights, credits, etc., to be sold, collected and applied to the payment of the debts of his creditors…
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Civil actiost, tried at October Term, 1891, of Durhaji Superior Court, Winston, J., presiding. This is a creditor’s action brought against the defendant Whitaker their debtor, and V. Ballard, the trustee of a deed trust executed on the 12th of January, 1891, whereby the said Whitaker conveyed to him all his real and personal property, consisting of land, goods in store, rights, credits, etc., to be sold, collected and applied to the payment of the debts of his creditors against him, preferring certain of them before others by classes. In this deed the said Whitaker reserves his right of…
1Opinion of the CourtMerrimon, C. J.
afier stating the facts: The deed of trust in question upon its face purports by its terms and effect to convey all the property of the defendant debtor to his co-defendant trustee, reserving to the former his right of homestead and personal property exemptions from execution for the benefit of his creditors as therein classified. The trustee is required to take possession of the property, sell it, collect the rights and credits as rapidly as practicable, haying in view the best advantage of the creditors, and to pay their debts as fast as he shall realize money for the purpose. The debtor…
2Cases cited3 opinions
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3Cited by12 opinions
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