Virginia-Carolina Laundry Supply Corp. v. Scott

The first question to be determined is whether the holder of the note which the deed of trust purports to secure is a necessary party to this action. In Hancock v. Wooten, 107 N.C. 9, 12 S.E. 199, certain creditors, in behalf of themselves and all other creditors of the grantor, attacked as a fraud upon creditors a deed of assignment to a trustee to secure payment of claims specified therein. One of the creditors so preferred died. The trustees contended that her representative was a necessary party to the action. Shepherd, J., later C.J., speaking for the Court, said:

“[W]e will consider the…