Elliott v. . Wood
New York Court of Appeals
Appeal from an order of the General Term of the Supreme Court, in the first judicial district, reversing a judgment of the Special Term for the plaintiff, and granting new trial.
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Appeal from an order of the General Term of the Supreme Court, in the first judicial district, reversing a judgment of the Special Term for the plaintiff, and granting new trial. In June, 1857, the plaintiff, with others, claimed to own and to have taken possession of “ Sombrero,” an island in the Caribbean sea, containing deposits of guano, and contracted to sell to Wood & Grant, to whose rights and liabilities the defendants, Woods, have succeeded, one-half of the interest in the whole island, Wood & Grant agreeing to pay $30,000 therefor, and advance for a working capital the further sum…
1Opinion of the CourtAllen, J.
Wood & Grant, to whose rights, duties and obligations the defendants, Wood & Son, have succeeded, paying $30,000 in cash for their interest, furnishing the working capital for the development of the enterprise, and mining, collecting and sending to market the products of the island, and coming under positive engagement to advance $20,000 for that purpose, were properly accorded the' sole control of the working management of the island as a reasonable security for the repayment of their advances. They had also the power to transfer or lease the property tq a joint stock company, or work the…
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- McNees v. SwaneySupreme Court of Missouri · 1872
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