Robinson v. Placerville & Sacramento Valley Railroad
California Supreme Court
Appeal from a judgment of the Superior Court of the city and county of San Francisco, and from an order refusing a new trial. The object of the action was to remove the defendants, Barney and McLane, from the office of trustees of an alleged trust.
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Appeal from a judgment of the Superior Court of the city and county of San Francisco, and from an order refusing a new trial. The object of the action was to remove the defendants, Barney and McLane, from the office of trustees of an alleged trust. The plaintiff averred that he was the holder of certain bonds of the defendant, the Placerville and - Sacramento Valley Eailroad, secured by a mortgage of the property of the corporation to Barney and McLane, as trustees for the bondholders, and that they had failed to discharge the duties of the trust. The answer contained an averment that the…
1Opinion of the Court
The Court.
—1. It would seem to be the theory of plaintiff, the appellant, that the conveyance by Alvord transferred only the title acquired through the decretal sale based upon the foreclosure of the second mortgage; that is, the title of defendant subject only to the lien of the prior mortgage. Inasmuch as the original scheme fell through; by reason of the failure effectively to organize a new corporation, it may, for the puposes of this decision, even be conceded that Wells, Fargo & Co., the second mortgagee, would have been entitled to receive the whole consideration for the conveyance of…
2Cited by9 opinions
- Pacific Finance Corp. v. Superior CourtCalifornia Supreme Court · 1933
- Mott v. MottCalifornia Supreme Court · 1890
- Islais & Salinas Water Co. v. AllenCalifornia Supreme Court · 1901
- Diefendorff v. HopkinsCalifornia Supreme Court · 1892
- Great Western Gold Co. v. ChambersCalifornia Supreme Court · 1908
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