Webb & Knapp, Inc. v. Hanover Bank

The Hanover Bank, of New York City, and John W. Ludewig, as executors and trustees of the estate of the late William Woodward, Jr. (sometimes collectively referred to below as the “Trustees”) filed a bill in equity in the Circuit Court for Prince George’s County in which they reported a contract for the sale of a tract of approximately 2227 acres of land in that County, and the improvements thereon, known as “Belair Farm”, to Webb & Knapp, Inc., at a price of $1,187,500, and asked the court to ratify the contract and to appoint a trustee to. convey all right, title and interest of the parties…