Walker v. Flemming
Supreme Court of North Carolina
Civil aotioN, tried by Henry, J., upon demurrer, at the Spring Term, 1873, of the Superior Court of BueKe county. The plaintiffs, as assignees af a certain mortgage made by the defendant, Flemming to his co-defendant, the Western N. C. Railroad, demands, that after taking an account to ascertain the indebtedness of Flemming to the road, the lands embraced1’ in the mortgage be sold, and the balance, after paying said! debt, be applied to the satisfaction of their debts…
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Civil aotioN, tried by Henry, J., upon demurrer, at the Spring Term, 1873, of the Superior Court of BueKe county. The plaintiffs, as assignees af a certain mortgage made by the defendant, Flemming to his co-defendant, the Western N. C. Railroad, demands, that after taking an account to ascertain the indebtedness of Flemming to the road, the lands embraced1’ in the mortgage be sold, and the balance, after paying said! debt, be applied to the satisfaction of their debts against the-road. The defence set up by the road to this action, is fully set out-in 'the opinion of Chief Justice PeaesoN.…
1Opinion of the CourtPeabsoN, C. J.
Pending an action in the Superior Court, the purpose of which was to have it decided, whether the “Tate board” or the “ Howerton board ” were entitled to the office, Tate, who held the office as President de facto, assumes to himself the right to znake preferences among the creditoi'S of the Company, and assigns to the plaintiffs a valuable security belonging to the Company, as a collatez’al security for their debts, and this is done a very short time before the decision in Howerton v. Tate was announced, 68 N. C., 546. It is\true, .that for the ordinary purposes of the Company, and in order…
2Cases cited1 opinion
- State Ex Rel. Howerton v. TateSupreme Court of North Carolina · 1873
3Cited by1 opinion
- Sloan v. . McDowellSupreme Court of North Carolina · 1874