Frishmuth v. Farmers' Loan & Trust. Co.
Court of Appeals for the Second Circuit
Appeal from the Circuit Court of the United States for the Southern District of New York. These two bills in equity, which were brought in the circuit court for the Southern district of New York, are founded upon substantially the same facts* but the legal liability of the defendant is presented in-the respective bills in a different form.
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Appeal from the Circuit Court of the United States for the Southern District of New York. These two bills in equity, which were brought in the circuit court for the Southern district of New York, are founded upon substantially the same facts* but the legal liability of the defendant is presented in-the respective bills in a different form. To each bill the defendant interposed substantially the same demurrers, which were beard by Judge Wallace, who* as will be'seen,, overruled a part of the demurrers, sustained a portion, and dismissed the bills unless the complainants should see. fit by…
1Opinion of the CourtShipman, Circuit Judge
(after stating the facts as above). The .circuit judge was of the opinion that the bill stated a good cause of action, and overruled the first demurrer. The grounds upon which he rested his conclusion were that the duties of the defendant, which was a trustee for the benefit of the bondholders, were not simply those which were stated in terms in the mortgage, but were imposed upon and were assumed by the defendant by the fact of trusteeship, and by the situation or obvious nature of the mortgage security. Tn this case— . -.“The. security was practically in nubibus at the inception of the…
2Cases cited3 opinions
- Kirby v. Lake Shore & Michigan Southern RailroadSupreme Court of the United States · 1887
- United States v. BoydSupreme Court of the United States · 1846
- Altschul v. HoggU.S. Circuit Court for the District of Oregon · 1894
3Cited by8 opinions
- York v. Guaranty Trust Co. of New YorkCourt of Appeals for the Second Circuit · 1944
- Trimming v. HowardIdaho Supreme Court · 1932
- Cornell v. EdsenWashington Supreme Court · 1914
- Citizens Banking Co. v. Monticello State BankCourt of Appeals for the Eighth Circuit · 1944
- Meeker v. BaxterCourt of Appeals for the Second Circuit · 1936
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