Nicholson v. Leavitt
New York Court of Appeals
Appeal from the general term of the Superior Court of the city of New York, where the plaintiff’s bill had been dismissed, with costs.
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Appeal from the general term of the Superior Court of the city of New York, where the plaintiff’s bill had been dismissed, with costs. (Reported below, 4 Sandf. 252.) This was a bill in equity, filed in the late court of chancery, by the plaintiffs, as judgment-creditors of the firm of J. W. & R. Leavitt, against the debtors and their assignees, to set aside certain assignments made by the firm, in trust for the benefit of creditors, on the ground that they were designed to hinder, delay and defraud the creditors of the assignors; and to obtain satisfaction of their judgments out of the…
1Opinion of the CourtGardiner, J.
— The only question which I -* propose to consider is, whether a provision, authorizing a credit, in the discretion of the trustees, upon the sale of the property, avoids the trust as to the complainant, a judgment-creditor.
*471One of the express trusts authorized by statute is, “to sell lands for the benefit of creditorstrusts of personal property are tolerated by our law, for the same object. The power to create a trust of real or personal property, or, as in this case, of both, must be construed in the light of other provisions of the common law and the statutes of this state. One of these…
2Cases cited11 opinions
- Hyslop & Cambpell v. ClarkeNew York Supreme Court · 1817
- Murray v. CarothersCourt of Appeals of Kentucky · 1858
- Burdick v. Post & HunttingNew York Supreme Court · 1851
- Barney v. . GriffinNew York Court of Appeals · 1849
- Riggs v. MurrayNew York Court of Chancery · 1817
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