Nashua Savings Bank v. Abbott
Massachusetts Supreme Judicial Court
Bill in equity, filed November 22,1900, against the administrator of the estate of Allen S. Weeks, to have the proceeds from the sale of a seat or membership in the Boston Stock Exchange declared charged with an express trust or lien by reason of a certain assignment in writing dated October 6, 1883, securing the payment, as alleged, of two promissory notes, one for $5,000 signed by Allen S. Weeks and Lucy N. Weeks, and the other for $2,000 signed by Allen S. Weeks as maker…
Read the full summary
Bill in equity, filed November 22,1900, against the administrator of the estate of Allen S. Weeks, to have the proceeds from the sale of a seat or membership in the Boston Stock Exchange declared charged with an express trust or lien by reason of a certain assignment in writing dated October 6, 1883, securing the payment, as alleged, of two promissory notes, one for $5,000 signed by Allen S. Weeks and Lucy N. Weeks, and the other for $2,000 signed by Allen S. Weeks as maker and Henry Sayles as indorser. The case was heard by Morton, J., who made certain findings, and, at the request of the…
1Opinion of the CourtBarker, J.
The right to a seat in the exchange had a pecuniary value, could be transferred under restrictions, and upon the member’s death could be disposed of by a committee by sale, the price after extinguishing the claims of other members going to the legal representatives of the deceased. These characteristics make such rights property, and they are so recognized and dealt with. Fish v. Fiske, 154 Mass. 302. Currier v. Studley, 159 Mass. 17. See Hyde v. Woods, 94 U. S. 523; Powell v. Waldron, 89 N. Y. 328; People v. Feitner, 167 N. Y. 1; Barclay v. Smith, 107 Ill. 349.
The assignment of October 6,…
2Cases cited15 opinions
- Hyde v. WoodsSupreme Court of the United States · 1877
- Powell v. . WaldronNew York Court of Appeals · 1882
- Currier v. StudleyMassachusetts Supreme Judicial Court · 1893
- Kenworthy v. SawyerMassachusetts Supreme Judicial Court · 1878
- Richardson v. WhiteMassachusetts Supreme Judicial Court · 1896
10 more not listed; retrieve them via the Exa API.
3Cited by20 opinions
- Stoneham Five Cents Savings Bank v. JohnsonMassachusetts Supreme Judicial Court · 1936
- In Re the Accounting of GrunerNew York Court of Appeals · 1946
- O'Dell v. BoydenCourt of Appeals for the Sixth Circuit · 1906
- New England Trust Co. v. SpauldingMassachusetts Supreme Judicial Court · 1941
- Willard v. ShekellMichigan Supreme Court · 1926
15 more not listed; retrieve them via the Exa API.