Miller v. Gourley
New Jersey Court of Chancery
On bill, answers and proofs. This bill is filed by the complainant, as receiver by appointment of this court of Robert S. Hobbs & Company, a corporation of' this state, against one Samuel Gourley, the holder of a real estate and chattel mortgage, made cn the 13th day of December, 1901, by that company to the defendant, to secure the payment of $20,000, covering substantially the entire property of the company.
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On bill, answers and proofs. This bill is filed by the complainant, as receiver by appointment of this court of Robert S. Hobbs & Company, a corporation of' this state, against one Samuel Gourley, the holder of a real estate and chattel mortgage, made cn the 13th day of December, 1901, by that company to the defendant, to secure the payment of $20,000, covering substantially the entire property of the company. The affidavit of consideration specifies that the true consideration of the mortgage was $20,000, of which $2,000 was for cash loaned to the mortgagor, and the balance for work and…
1Opinion of the Court
Grey, Y. C.
The bill of complaint in this case challenges the validity of the mortgage for $20,000, held by the defendant, upon several grounds:
First. That though given in the name and under the seal of the mortgagor company and proven bjr the annexed oath of the secretary to have been made “pursuant to resolution of the directors” of that company, there was not, in point of fact, any vote of the board of directors that the mortgage should be given.
Second. The complainant insists that when the mortgage was made, the mortgagor company was either insolvent or certainly in contemplation of its…
2Cited by8 opinions
- In Re Lea Fabrics, Inc.District Court, D. New Jersey · 1964
- Wisner Mfg. Co. v. Second National, C., Co.New Jersey Court of Chancery · 1932
- In Re Nizolek Furniture & Carpet Co.District Court, D. New Jersey · 1947
- Stanber v. Sims Magneto Co.New Jersey Court of Chancery · 1925
- First Nat. Bk., Lyndhurst v. Bianchi SmithNew Jersey Court of Chancery · 1930
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