Botsford v. Burr
New York Court of Chancery
[ * 406 ] THE bill, filed March the 9th, 1815, stated, that the plaintiff, on the first of May, 1813, applied to the defendant for the loan of 900 dollars, to which the defendant agreed, provided he was permitted to purchase in a farm of the plaintiff, bought by him of S. Skidmore, subject to a mortgage *given by Skidmore to J. Bogardus, and which was advertised for sale under that mortgage, as security for the payment of the loan.
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[ * 406 ] THE bill, filed March the 9th, 1815, stated, that the plaintiff, on the first of May, 1813, applied to the defendant for the loan of 900 dollars, to which the defendant agreed, provided he was permitted to purchase in a farm of the plaintiff, bought by him of S. Skidmore, subject to a mortgage *given by Skidmore to J. Bogardus, and which was advertised for sale under that mortgage, as security for the payment of the loan. That the defendant accordingly purchased the farm. That the plaintiff bad made an agreement to purchase of Peter Elmendorf, lot No. 3, lying oppo site to the farm…
1Opinion of the Court
The Chancellor.
The bill proceeds on the assumed fact that the defendant purchased the Bogardus farm, and the Elmendorf lot, as trustee for the plaintiff, and took the deeds in his own name, by agreement between them, for his better security and indemnity, as he was obliged to advance, or become bound for, nearly the whole of the consideration money. The defendant is, therefore, called on, as trustee, to account for the proceeds of the subsequent sale of the lands, after being credited for the advances which he has been obliged to make, together with a reasonable allowance for his services as…
2Cases cited3 opinions
- Stevens v. CooperNew York Court of Chancery · 1815
- Riggs v. MurrayNew York Court of Chancery · 1817
- Hughes v. MooreSupreme Court of the United States · 1812
3Cited by24 opinions
- Hidden v. JordanCalifornia Supreme Court · 1862
- Heflin v. HeflinSupreme Court of Alabama · 1922
- Dunn v. Zwilling Bros.Supreme Court of Iowa · 1895
- Coles v. Allen, Freer & IllgesSupreme Court of Alabama · 1879
- Barber v. BraceSupreme Court of Connecticut · 1819
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