Quidnick Company v. Chafee
Supreme Court of Rhode Island
Bill in equity to establish a lien and for an account. By deed of trust, bearing date November 1, 1873, the A. & W. Sprague Manufacturing Company, William Sprague, Amasa Sprague, Mary Sprague, Fanny Sprague, and the firm of A. & W. Sprague, conveyed certain property to Zechariah Chafee, giving him power to execute notes for the indebtedness of the grantors, to sell the property conveyed in case of default in the payment of these notes, and, meanwhile, to carry on the…
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Bill in equity to establish a lien and for an account. By deed of trust, bearing date November 1, 1873, the A. & W. Sprague Manufacturing Company, William Sprague, Amasa Sprague, Mary Sprague, Fanny Sprague, and the firm of A. & W. Sprague, conveyed certain property to Zechariah Chafee, giving him power to execute notes for the indebtedness of the grantors, to sell the property conveyed in case of default in the payment of these notes, and, meanwhile, to carry on the business of the grantors for the benefit of their creditors. Subsequently all the grantors, except Mary Sprague and Fanny…
1Opinion
The facts before us are these. The Quidnick Co. was declared to be entitled to a lien on the estate, held by the respondent Chafee in trust, for such amount as an account to be taken shall disclose to be due; the estate could not be held to await the account except at "great and ruinous expense," and the trustee was therefore directed to proceed to sell the property and deposit the proceeds, subject to the order of the court, as security for the lien. No mode of sale was specified; that being left to the discretion and responsibility of the trustee, but, in order to guard against any improper…
2Cases cited5 opinions
- King v. Ohio & M. Ry. Co.U.S. Circuit Court for the District of Indiana · 1877
- Executors of Brasher v. CortlandtNew York Court of Chancery · 1817
- Secor v. Toledo, P. & W. R.U.S. Circuit Court for the Northern District of Illnois · 1877
- Fischer v. RaabNew York Court of Common Pleas · 1878
- Gilmore v. GilmoreSupreme Judicial Court of Maine · 1855