Theological Seminary v. Childs & Stebbins
New York Court of Chancery
The object of this suit was to obtain the decision of this court as to the validity of a legacy from D. W. Childs, deceased, to the complainants. By the will of the testator, he devised to his executors certain real estate, to be sold for the benefit of his children, and for the payment of certain legacies. Among other legacies which he directed to be paid out of the proceeds of such real estate, was one of $500, to the trustees of the Theological Seminary at Auburn.
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The object of this suit was to obtain the decision of this court as to the validity of a legacy from D. W. Childs, deceased, to the complainants. By the will of the testator, he devised to his executors certain real estate, to be sold for the benefit of his children, and for the payment of certain legacies. Among other legacies which he directed to be paid out of the proceeds of such real estate, was one of $500, to the trustees of the Theological Seminary at Auburn. The complainants are authorized, by the act, creating them a corporation, (Sess. Laws, 1820, 197,) to receive a devise of lands…
1Opinion of the Court
The Chancellor.
By the decision of the court for the correction of errors in M’Cartee v. The Orphan Asylum Society, (9 Cawen's Rep. 437,) it is settled that the statute of wills of March, 1813, (1 R. L. 364,) did not authorize a devise of real estate directly to a corporation. And in the recent revision of the laws, it is declared that no devise to a corporation shall fee .valid unless such corporation be expressly authorized by its charter, or by statute, to take .by devise. (2 R. S. 57, § 3.) It is insisted, however, on the part of the complainants, that by their act of incorporation they…
2Cited by4 opinions
- Robertson v. BullionsNew York Supreme Court · 1850
- Wright v. Trustees of Corp. of Meth. Epis ChurchNew York Court of Chancery · 1839
- Goddard v. PomeroyNew York Supreme Court · 1862
- Leslie v. MarshallNew York Supreme Court · 1860