Coit v. Tracy
Supreme Court of Connecticut
This was a bill in chancery, brought by Benjamin Coit, against Elisha Tracy, stating, that they, with divers other persons heretofore associated for the purpose of prosecuting a sealing voyage to the Pacific Oceanthat of this association the plaintiff and defendant were the agents and trustees ; that divers large sums of money had been, by them, as such agents and trustees, laid out and expended, and divers other large sums had been by them received ; and that, though the…
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This was a bill in chancery, brought by Benjamin Coit, against Elisha Tracy, stating, that they, with divers other persons heretofore associated for the purpose of prosecuting a sealing voyage to the Pacific Oceanthat of this association the plaintiff and defendant were the agents and trustees ; that divers large sums of money had been, by them, as such agents and trustees, laid out and expended, and divers other large sums had been by them received ; and that, though the accounts of such trust and agency had been settled with their associates, yet the accounts between themselves had never…
1Opinion of the CourtBissell, J.
With regard to the first ground of error assigned, it appears from the facts found by the committee, that considerable losses had been sustained on the moneys which came into the hands of Tracy and Coit, as the agents of the association. It also appears, that on the adjustment of their accounts with their associates, they had been charged with these losses. No part of them was sustained by the share-holders, as such j but the whole amount was thrown upon Tracy and Coit, in the character of agents and trustees. It has been found by the committee, that these losses áre justly attributed to the…
2Cited by18 opinions
- Dille v. WhiteSupreme Court of Iowa · 1906
- Johnson v. JonesNew York Supreme Court · 1848
- Lee's Adm'rs v. FontaineSupreme Court of Alabama · 1846
- Murray v. GouverneurNew York Supreme Court · 1800
- McLelland v. RidgewaySupreme Court of Alabama · 1847
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