McNinch v. American Trust Co.
Supreme Court of North Carolina
Appeal by defendants from Ilarding, J., at March Term, 1921, of MECKLENBURG. Civil action to recover damages for an alleged breach of trust. In 1917 the plaintiffs were financially embarrassed. They owned a valuable brick plant and about 682 acres of river-bottom land, situate on the banks of the Catawba in York County, South Carolina.
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Appeal by defendants from Ilarding, J., at March Term, 1921, of MECKLENBURG. Civil action to recover damages for an alleged breach of trust. In 1917 the plaintiffs were financially embarrassed. They owned a valuable brick plant and about 682 acres of river-bottom land, situate on the banks of the Catawba in York County, South Carolina. This property was mortgaged to the American Trust Company to secure the payment of certain outstanding obligations, aggregating approximately $34,000. The mortgagee trust company filed suit in the court of common pleas of York County, South Carolina, to collect…
1Opinion of the Court
Stacy, J.,
after stating tbe facts as above: Tbe foregoing statement of tbe case will suffice for a sufficient understanding of our present decision. There are other circumstances, relating chiefly to tbe second cause of action, which are deemed unnecessary to be set out in detail, as they are only subsidiary to tbe objective and controlling 'facts above stated.
His Honor directed a negative answer to tbe first issue; and this presents for our consideration tbe validity of tbe defendants’ plea of estoppel, based upon tbe judgment of foreclosure entered by the court of common pleas, of York…
2Cases cited39 opinions
- Brison v. BrisonCalifornia Supreme Court · 1888
- Avery v. StewartSupreme Court of North Carolina · 1904
- Newton v. . PorterNew York Court of Appeals · 1877
- Sprinkle v. Wellborn.Supreme Court of North Carolina · 1905
- In Re Will of SmithSupreme Court of North Carolina · 1913
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3Cited by9 opinions
- Thompson v. SolesSupreme Court of North Carolina · 1980
- Call v. StroudSupreme Court of North Carolina · 1950
- McKinley v. HinnantSupreme Court of North Carolina · 1955
- Mandley v. BackerCourt of Appeals for the D.C. Circuit · 1941
- Miller v. First National Bank of Catawba CountySupreme Court of North Carolina · 1951
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