Dexter v. Stewart
New York Court of Chancery
THE bill, filed September 10th, 1819, by the representatives of Samuel Dexter, deceased, stated, that S. D. being seised of certain lots of land in the military tract, which were described, on the 4th of' September, 1813, entered into a contract, by deed, with the defendant, Gilbert Stewart, for the sale and conveyance of the lots, being thirty-nine, at the time, and upon the terms mentioned in the contract, which was set forth in the bill.
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THE bill, filed September 10th, 1819, by the representatives of Samuel Dexter, deceased, stated, that S. D. being seised of certain lots of land in the military tract, which were described, on the 4th of' September, 1813, entered into a contract, by deed, with the defendant, Gilbert Stewart, for the sale and conveyance of the lots, being thirty-nine, at the time, and upon the terms mentioned in the contract, which was set forth in the bill. The defendant, G. S., on his part, covenanted to pay S. D., on or before the 14th of September, 1823, the sum of 25,000 dollars; and that on the 14th of…
1Opinion of the Court
The Chancellor.
The just construction of the agreement, with its accompanying power of attorney, would seem to require that the proceeds of sales, under the power, should be strictly and specifically applied to the discharge of the debt due to Dexter, and to the payment of the costs and charges necessarily created in the due execution of the power. It was part of the express covenant of Stewart, that the power was to be used only for the purpose *55of carrying into effect the agreement. Under this construction, Stewart became a trustee, and took contracts . . and securities, and received the…
2Cited by8 opinions
- Wood v. DummerU.S. Circuit Court for the District of Maine · 1824
- Taylor v. BenhamSupreme Court of the United States · 1847
- Trecothick v. AustinU.S. Circuit Court for the District of Massachusetts · 1825
- Mauldin, Montague & Co. v. ArmisteadSupreme Court of Alabama · 1848
- Hulse v. BaconAppellate Division of the Supreme Court of the State of New York · 1899
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