Pearl Street Congregational Society v. Imlay
Supreme Court of Connecticut
This was • an appeal from the doings of the commissioners, on the estate assigned by William H. Imlay, for the benefit of his creditors, allowing a claim against said estate, in favor of the Pearl street Congregational society of Hartford. The cause was submitted to the superior court, at the term holden in January, 1854, on the following agreed statement of facts, and was reserved for the advice of this court.
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This was • an appeal from the doings of the commissioners, on the estate assigned by William H. Imlay, for the benefit of his creditors, allowing a claim against said estate, in favor of the Pearl street Congregational society of Hartford. The cause was submitted to the superior court, at the term holden in January, 1854, on the following agreed statement of facts, and was reserved for the advice of this court. On the first day of June, 1851, Joseph Wales purchased of the Pearl street Congregational society, a lot of land, in the city of Hartford, for $-, and by the terms of sale, he was to…
1Opinion of the CourtEllsworth, J.
We do not think it is necessary to comment upon the numerous cases which have been read, illustrating and enforcing the principle of equity, equally well settled in England and here, that any security which’ has been appropriated by the debtor, to secure his debt, whether it be placed in the hands of the creditor or the surety, shall be made available for the debt and for his benefit, who is forced to pay it. It is treated as a fund, set apart for that purpose. The principle itself is founded in the highest justice and wisdom, while, in applying it to cases, as they arise, there are…
2Cited by4 opinions
- Glazier v. DouglassSupreme Court of Connecticut · 1865
- Reed v. McGregorSupreme Court of Minnesota · 1895
- American Bonding Co. v. Progressive Permanent Building Loan & Savings Ass'nCourt of Appeals of Maryland · 1905
- Joseph J. Keresey, Plaintiff-Appellee-Appellant v. New Milford Tractor Corporation, Thomas Costello, and Frank La GrottaCourt of Appeals for the Second Circuit · 1956