Curtis, Graham & Blatchford v. Leavitt
New York Court of Appeals
Original and Cross Bill. The North American Trust and Banking Company, organized in July, 1838, under the general banking act, passed in April of that year. By the articles of the association, the capital was fixed at $2,000,000, with the right of enlarging, it to $50,000,000. The powers of the company were, by the same articles, vested in a board of directors and such officers and agents as they should appoint.
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Original and Cross Bill. The North American Trust and Banking Company, organized in July, 1838, under the general banking act, passed in April of that year. By the articles of the association, the capital was fixed at $2,000,000, with the right of enlarging, it to $50,000,000. The powers of the company were, by the same articles, vested in a board of directors and such officers and agents as they should appoint. According to the by-laws, all bonds and mortgages were to be taken in the name of the president, and he had power to assign, cancel and discharge mortgages, judgments or other…
1Opinion of the CourtComstock, J.
It will be convenient to approach the questions in this case, having first an accurate notion of the *43rights and powers of the appellant as receiver of the North American Trust and Banking Company. His counsel have been understood to argue, in effect, that all possible objections to the million and first half million trusts are centred in him, constituting in the sum total a simple power to repudiate them, if repudiation were possible at any time, under any circumstances, and for the benefit of any parties —a power to be exercised without regard to the elements of which it is composed, and…
2Cases cited75 opinions
- Bank of Augusta v. EarleSupreme Court of the United States · 1839
- Hunt v. Rousmanier's AdministratorsSupreme Court of the United States · 1823
- Armstrong v. TolerSupreme Court of the United States · 1826
- Hunt v. RhodesSupreme Court of the United States · 1828
- People ex rel. Attorney General v. Utica InsuranceNew York Supreme Court · 1818
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3Cited by4 opinions
- Cooper v. OklahomaSupreme Court of the United States · 1996
- Smith v. Chicago, Milwaukee & St. Paul Railway Co.Wisconsin Supreme Court · 1905
- State v. PinskyNew Jersey Superior Court Appellate Division · 1950
- Risley v. RiceNew York Supreme Court · 1886