McKenney v. Haines
Supreme Judicial Court of Maine
On report. Assumpsit to recover balance due for twenty shares of the stock of the Second National Bank of Portland, borrowed by the defendant of the plaintiff, June 5,1869, upon an agreement to return them on demand, and in the meantime to pay to Mr. McKenney all the dividends declared upon them. To secure performance of this agreement the defendant conveyed to the plaintiff real estate in Portland.
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On report. Assumpsit to recover balance due for twenty shares of the stock of the Second National Bank of Portland, borrowed by the defendant of the plaintiff, June 5,1869, upon an agreement to return them on demand, and in the meantime to pay to Mr. McKenney all the dividends declared upon them. To secure performance of this agreement the defendant conveyed to the plaintiff real estate in Portland. Circumstances rendering it impossible for Mr. Haines to return the shares when demanded, and the property taken as collateral being insufficient security, it was agreed that Mr. McKenney should…
1Opinion of the CourtVirgin, J.
On June 5, 1869, the defendant borrowed of the plaintiff twenty shares of bank stock, conveyed to him certain land as security and contracted to pay him all dividends on the stock, and return the same number of shares on demand upon receiving a reconveyance of the land. *75Circumstances having rendered it impossible for the defendant to return the stock, the parties, on October 18, 1872, agreed that the plaintiff should retain the land at an appraised value, and that the defendant should pay the difference. The defendant failed to fulfill the latter agreement, and this action was brought for a…
2Cases cited5 opinions
- Lobdell v. . StowellNew York Court of Appeals · 1872
- Hill v. Smith & CarpenterSupreme Court of Vermont · 1859
- Humphreysville Copper Co. v. Vermont Copper Mining Co.Supreme Court of Vermont · 1860
- West v. PritchardSupreme Court of Connecticut · 1848
- Rider v. RobertsSupreme Court of Vermont · 1859
3Cited by1 opinion
- Walley v. Deseret National BankUtah Supreme Court · 1896