Bank of Washington v. Arthur
Supreme Court of Virginia
James S. Arthur, George F. Hupp and Philip A. Machir, filed their bill in the Superior Court for the county of Shenandoah, in which they charged, that Arthur, on the 6th of February 1840, had executed a deed by which he conveyed sundry tracts of land and other property in trust to secure certain debts due to Hupp, Machir and others.
Read the full summary
James S. Arthur, George F. Hupp and Philip A. Machir, filed their bill in the Superior Court for the county of Shenandoah, in which they charged, that Arthur, on the 6th of February 1840, had executed a deed by which he conveyed sundry tracts of land and other property in trust to secure certain debts due to Hupp, Machir and others. That Arthur had, in March 1839, executed a deed by which he conveyed the same property in trust to secure a debt of 40,000 dollars, due by bond to John B. Stcenbergen, who had assigned the same to the Bank of Washington. That this bond was given on k usurious…
1Opinion of the Court
Baldwin. J.
delivered the opinion of the Court.
It appears to the Court, that by the contract between James S. Arthur and John B. Steenbergen, in the proceedings mentioned, Arthur agreed to pay to Steenbergen the sum of forty thousand dollars, in certain deferred instalments, with interest thereon from a period shortly subsequent to the date of the contract, in consideration of certain advancements to the like amount to be made by Steenbergen to Arthur, as follows, to wit: a certain portion of said amount in certain pre-existing debts due,from Arthur to Steenbergen, which Steenbergen .agreed %…
2Cases cited1 opinion
- Martin v. Lindsay's adm'rs.Supreme Court of Virginia · 1829