Cumberland Coal & Iron Co. v. Parish
Court of Appeals of Maryland
Appeal from the Circuit Court for Allegany County, in Equity. The hill in this case was filed by the appellee on the 13th of January, 1811, to procure payment of a mortgage alleged to have been made by the Cumberland Coal and Iron Company to Allen M. Sherman, of certain real estate in Cumberland, to which the Consolidation Coal Company had become entitled by transfer (lorn the Cumberland Coal and Iron Company.
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Appeal from the Circuit Court for Allegany County, in Equity. The hill in this case was filed by the appellee on the 13th of January, 1811, to procure payment of a mortgage alleged to have been made by the Cumberland Coal and Iron Company to Allen M. Sherman, of certain real estate in Cumberland, to which the Consolidation Coal Company had become entitled by transfer (lorn the Cumberland Coal and Iron Company. This mortgage came into possession of the appellee by assignment from Sherman, dated 6th October, 1863, and recorded 15th of October, 1863, the consideration thereof being recited as…
1Opinion of the Court
Alvey, J.,
delivered the opinion of the Court..
It appears that at the time when the mortgage sought to be enforced was made, and for sometime previous, Sherman, the mortgagee, was not only one of the directors, but was a member of the executive committee; and also financial agent of the Oompanjr, the mortgagor. There is therefore no question as to the fact that Sherman bore an important fiduciary relation to the Company, as well as *605one of trust and confidence in the general control and management of its affairs. Holding such relation, he was bound to exercise all the power and authority…
2Cases cited3 opinions
- Hoffman Steam Coal Co. v. Cumberland Coal & Iron Co.Court of Appeals of Maryland · 1860
- Cumberland Coal & Iron Co. v. ShermanCourt of Appeals of Maryland · 1863
- Clute v. RobinsonNew York Supreme Court · 1807
3Cited by65 opinions
- Maryland Metals, Inc. v. MetznerCourt of Appeals of Maryland · 1978
- Booth v. RobinsonCourt of Appeals of Maryland · 1881
- Jones v. MorrisonSupreme Court of Minnesota · 1883
- Merchants Mortgage Co. v. LubowCourt of Appeals of Maryland · 1975
- James v. WeisheitCourt of Appeals of Maryland · 1977
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