Snook v. Pearsall

Defendant Ira S. Pearsall, in 1871, made a distribution of practically all of his property. He assigned certain notes and mortgages to the complainant, his daughter, in her own right, and certain other notes and mortgages to her in trust for her two daughters. At the same time, he deeded a farm valued at $10,000, and assigned certain other notes and mortgages, to the defendant Dwight E. Pearsall, his son. It was agreed between the parties that the father should retain in his possession all of the notes and mortgages so assigned, collect both interest and principal, re-invest the principal,…