Hunt v. State Bank
Supreme Court of North Carolina
The bill, which was filed in 1821, alleged, that in, the year 1816, the plaintiffs, together with the defendant Jeffmjs, and several other persons, were sureties for one Buko W. Davis, to the State Bank and the Bank of Newbern, in different notes, amounting in all to the sum of g 10,000. That the plaintiffs and Jeffretjs, to secure themselves from loss on account of their liabilities for Davis, procured him to convey to one William Moore, a valuable tract oí land, in trust…
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The bill, which was filed in 1821, alleged, that in, the year 1816, the plaintiffs, together with the defendant Jeffmjs, and several other persons, were sureties for one Buko W. Davis, to the State Bank and the Bank of Newbern, in different notes, amounting in all to the sum of g 10,000. That the plaintiffs and Jeffretjs, to secure themselves from loss on account of their liabilities for Davis, procured him to convey to one William Moore, a valuable tract oí land, in trust to sell the same, and apply the proceeds to the payment of the several debts, for which they were sureties. That Davis…
1Opinion of the Court
Halu, Judge,
after stating- the case as- above, pro-, reeded: From every circumstance connected " with this case I am led to believe, that Jeffreys bad authority, to sell the land, but was to apply the purchase money, foi* the benefit of the plaintiffs artd others, .interested .in, the deed of trust to Moore', and as,he was -authorized to sell the land, no distrust of his fidelity in accounting for .that purchase money was manifested at the time of the sale. The substance of the complaint then is, not that he sold ; the land, but that the plaintiffs have been. defrauded o& the purchase money;…
2Cited by2 opinions
- Denson v. Pine State Creamery Co.Supreme Court of North Carolina · 1926
- Kadis v. . WeilSupreme Court of North Carolina · 1913