Lanning v. Administrator of Lanning
New Jersey Court of Chancery
On the 23d of December, 1861, the complainant executed to a trustee, an assignment of two bonds and mortgages, amounting to about $1300, in trust to collect the moneys due thereon, and after satisfying claims against the complainant amounting to $78.50, to pay out of said moneys, unto John V. Lanning, a brother of the complainant, a debt of $1231, with interest, and to pay the surplus, if any, to the complainant.
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On the 23d of December, 1861, the complainant executed to a trustee, an assignment of two bonds and mortgages, amounting to about $1300, in trust to collect the moneys due thereon, and after satisfying claims against the complainant amounting to $78.50, to pay out of said moneys, unto John V. Lanning, a brother of the complainant, a debt of $1231, with interest, and to pay the surplus, if any, to the complainant. The bill seeks to set aside the assignment in favor of John V. Lanning, on the ground that there was, in fact, no debt due to him. That the notes which constituted the pretended…
1Opinion of the Court
The Chancellor.
Tho main issue between the parties is a question of fact, viz. whether the trust was in fact created to secure a previous indebtedness, or whether it was designed to transfer the complainant’s property to his brother, in consideration of his undertaking to maintain the complainant for the residue of his life. There is direct evidence, on the part of the complainant, of repeated declarations made by the defendant to different witnesses, at different times after the creation of the trust, that the complainant owed him nothing, and that he was to keep him for his property as long…
2Cases cited1 opinion
- Wayman v. SouthardSupreme Court of the United States · 1825
3Cited by1 opinion
- Hesselbrock v. First Nat. Bk., C., MontclairNew Jersey Court of Chancery · 1930