Hosack v. Rogers
New York Court of Chancery
The firm of Archibald Gracie &. Sons having become embarrassed and being indebted to A. Hosack, the complainant’s testator, and to R. King, N. Rogers & Sons and several other creditors in a very large amount, Á. Gracie, in behalf of the firm, made an assignment of certain claims which they had upon the British government, for the payment of the debts of such of the creditors as should become parties to the assignment and should thereby release the two junior partners of the…
Read the full summary
The firm of Archibald Gracie &. Sons having become embarrassed and being indebted to A. Hosack, the complainant’s testator, and to R. King, N. Rogers & Sons and several other creditors in a very large amount, Á. Gracie, in behalf of the firm, made an assignment of certain claims which they had upon the British government, for the payment of the debts of such of the creditors as should become parties to the assignment and should thereby release the two junior partners of the firm from all further liability. And A. Gracie, the senior partner, covenanted with such creditors that if the assigned…
1Opinion of the Court
The Chancellor.
The order of the vice chancellor was clearly wrong in directing the executor of A. Gracie to pay into court the small sums in his hands received under the Neapolitan treaty, or any other funds which were in nowise connected with the French claims. If the complainants, and other creditors of A. Gracie and Sons who accepted the assignment and released the two junior partners, are to be considered as having released the senior partner also* except so far as related to his interest in the French claims, the complainants had no right to call upon the executor to account for any…
2Cited by12 opinions
- Warren Tool Co. v. StephensonMichigan Court of Appeals · 1968
- Attorney-General v. Continental Life InsuranceNew York Court of Appeals · 1877
- Miller v. Irby's Adm'rSupreme Court of Alabama · 1879
- Hosack's Executors v. RogersNew York Supreme Court · 1840
- Ruffin v. . HarrisonSupreme Court of North Carolina · 1879
7 more not listed; retrieve them via the Exa API.