Fairchild v. Lampson
Supreme Court of Vermont
Trustee Process. The commissioner reported that, September 1st, 1856, N. W. Fairchild, trustee in this case, executed and delivered to W. F. Colton and R. M. Lampson his promissory note for $325. payable to said Colton & Lampson or order.
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Trustee Process. The commissioner reported that, September 1st, 1856, N. W. Fairchild, trustee in this case, executed and delivered to W. F. Colton and R. M. Lampson his promissory note for $325. payable to said Colton & Lampson or order. Prior to September 1st, 1859, this note passed into the possession of the claimant, A. E. Colton, brother of W. F. Colton, and on that day, on application of A. E. Colton, N. W. Fairchild gave a renewal note, payable to W. F. Colton & E. M. Lampson or bearer, and took up the $325. note. April 28th, 1862, A. E. Colton sued out a writ in his own name against…
1Opinion of the CourtAldis, J.
N. W. Fairchild owes Lampson & Colton a note for $383.50. Lampson & Colton own the note jointly, — each owning an undivided half. Can the plaintiff hold N. W. Fairchild as the trustee of Lampson alone?
I. The trustee strictly speaking has no credits of Lampson’s in his hands. What he has is a fund belonging to Lampson & Colton, jointly. The plaintiff has no right to take a judgment against Fair-child for credits belonging to Colton. He cannot take a judgment for the whole debt due Lampson & Colton.
If he take a judgment for anything it must be for Lampson’s undivided half; and as we have no way…
2Cases cited2 opinions
- Bartlett v. WoodSupreme Court of Vermont · 1859
- Towne v. LeachSupreme Court of Vermont · 1860
3Cited by1 opinion
- Willard v. WingSupreme Court of Vermont · 1897