Kidd v. . McCormick
New York Court of Appeals
Appeal from judgment of the General Term of the City Court of Brooklyn, entered upon an order made December 1, 1879, affirming judgment in favor of plaintiff, entered upon a report of the referee. This action was brought by plaintiff to reach a trust fund deposited with the Union Trust Company of New York.
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Appeal from judgment of the General Term of the City Court of Brooklyn, entered upon an order made December 1, 1879, affirming judgment in favor of plaintiff, entered upon a report of the referee. This action was brought by plaintiff to reach a trust fund deposited with the Union Trust Company of New York. On the 29th of January, 1877, plaintiff entered into a building contract with the defendants, Thomas and John McCormick, by which it was agreed that plaintiff should sell and convey to John McCormick seven certain lots of land for $2,425 each, and on each of which said John McCormick was to…
1Opinion of the Court
Folger, Ch. J.
We think that the building contract and the agreement as to the trust fund are, by the acts of the parties, to be read as one contract. Then, as far as involved in this case, it was a contract by the McCormicks, to take a deed of the premises, to give back mortgages to the plaintiff, to build four houses on the lots, and to leave $3,000 on deposit at the trust company as a collateral security for the performance by them of the contract. The plaintiff agreed that his mortgages should be next in lien after the Grannis mortgage, and that he would make some advances. He has kept his…
2Cases cited4 opinions
- Tracy v. . Albany Exchange Co.New York Court of Appeals · 1852
- Morrell v. . Irving Fire Insurance Co.New York Court of Appeals · 1865
- Laraway v. . PerkinsNew York Court of Appeals · 1852
- Holliday v. MarshallNew York Supreme Court · 1810
3Cited by38 opinions
- Trainor Co. v. Aetna Casualty & Surety Co.Supreme Court of the United States · 1933
- Comey v. . United Surety Co.New York Court of Appeals · 1916
- Lee v. HarrisSupreme Court of Connecticut · 1912
- International Fidelity Insurance v. County of RocklandDistrict Court, S.D. New York · 2000
- Prudence Co. v. Fidelity & Deposit Co. of Md.Supreme Court of the United States · 1936
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