Murphy's Appeal
Supreme Court of Pennsylvania
This was an appeal from the decree of the Court of Common Pleas of Philadelphia county, by John Murphy and Placette his wife, late Placette Caze. Anthony Laussat, the elder, on the 8th June 1819, executed a general assignment to Honoré Fournier, in trust for certain preferred creditors, and afterwards for the benefit of his general creditors.
Read the full summary
This was an appeal from the decree of the Court of Common Pleas of Philadelphia county, by John Murphy and Placette his wife, late Placette Caze. Anthony Laussat, the elder, on the 8th June 1819, executed a general assignment to Honoré Fournier, in trust for certain preferred creditors, and afterwards for the benefit of his general creditors. The material provisions of the assignment were “ for the uses following, to wit: after selling and disposing of the property and collecting the debts, from the proceeds thereof, 1. Upon trust, in the first place, to retain and reimburse himself the costs…
1Opinion of the Court
The opinion of the Court was delivered by
Sergeant, J.
In the ordinary cases of bankrupt and insolvent estates, a chancellor, exercising his jurisdiction over the assets under provisions made by law, acts upon principles of equity, and may apply them to the distribution of the funds among creditors. He may in a proper case adopt the principle of equality, which is considered as equity in the highest degree; and may take from one class and appropriate to others, so as to effect this object, where he is not opposed by the strict and express provisions of the *226Legislature. But in construing a…
2Cited by4 opinions
- Spencer Others v. Pierce OthersSupreme Court of Rhode Island · 1857
- Estate of the Bank of PennsylvaniaSupreme Court of Pennsylvania · 1869
- MyKulak v. CollinsSuperior Court of Delaware · 1973
- Bain v. PetersU.S. Circuit Court for the District of Eastern Virginia · 1890