Stratton v. Putney
Supreme Court of New Hampshire
The two cases are bills in equity to remove a cloud from the title to land in Antrim. Facts found by the court. July 7, 1882, the defendant Putney, being the owner of the land in question, conveyed it to the defendant Elliott by a deed absolute on its face, but in reality to secure a loan of 82,000 about that time made by Elliott to him. The conveyance was not made to hinder or delay creditors, nor with any intent to defraud them.
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The two cases are bills in equity to remove a cloud from the title to land in Antrim. Facts found by the court. July 7, 1882, the defendant Putney, being the owner of the land in question, conveyed it to the defendant Elliott by a deed absolute on its face, but in reality to secure a loan of 82,000 about that time made by Elliott to him. The conveyance was not made to hinder or delay creditors, nor with any intent to defraud them. Putney paid 8700 of the money thus obtained to the plaintiffs, Stratton, Merrill & Co., upon their account against him, and the remainder of the money he used in…
1Opinion of the CourtSmith, J.
The conveyance by Putney to Elliott, and the agreement executed by them in pursuance of the understanding entered into at the time of the negotiation for the conveyance of the land, that Elliott would reconvey to Putney upon repayment of the purchase-money, were in effect a loan by Elliott to Putney of $2,000, and a taking of security for the loan by deed absolute upon its face. The value of the land exceeded the amount of the loan, and Putney was in embarrassed circumstances. The law does not permit debts to be secured in this manner as against creditors. A secret understanding, that on…
2Cited by6 opinions
- Corning v. RecordsSupreme Court of New Hampshire · 1898
- Hall v. HallSupreme Court of New Hampshire · 1899
- Quimby v. WilliamsSupreme Court of New Hampshire · 1893
- Watkins v. ArmsSupreme Court of New Hampshire · 1886
- Stockwell v. StockwellSupreme Court of New Hampshire · 1903
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