People v. . Trust Co. of America
New York Court of Appeals
Appeal from a final judgment, entered June 24, 1911, upon an order of the Appellate Division of the Supreme Court in the third judicial department, which affirmed an interlocutory judgment of Special Term overruling a demurrer to the complaint. The nature of the action and the facts, so far as material, are stated in the opinion. The complaint does not state a cause of action.
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Appeal from a final judgment, entered June 24, 1911, upon an order of the Appellate Division of the Supreme Court in the third judicial department, which affirmed an interlocutory judgment of Special Term overruling a demurrer to the complaint. The nature of the action and the facts, so far as material, are stated in the opinion. The complaint does not state a cause of action. The statute in force at the time of the advance referred to imposed no liability upon the defendant, the trustee mider a trust mortgage, to pay the tax thereon and no such liability could thereafter fee created. (People…
1Opinion of the Court
Cullen, Ch. J.
This action is brought against the defendant, .to whom, as trustee, was executed by the Union Bag & Paper Company a mortgage dated the 28th day of June, 1905, to secure the payment of bonds to be issued amounting in the aggregate to $5,000,000. The trust was accepted and the mortgage recorded in the office of the clerk of Saratoga county on June 29th, 1905. The complaint alleges that prior to July 1, 1906, the total amount of bonds issued thereunder aggregated $3,200,000, and that in February, 1907, a further sum of $400,000 was advanced under said mortgage to the Union Bag &…
2Cases cited4 opinions
- Blackstone v. MillerSupreme Court of the United States · 1903
- In Re the Appraisal, Under the Transfer Tax Act, of the Estate of LansingNew York Court of Appeals · 1905
- Savings & Loan Society v. Multnomah CountySupreme Court of the United States · 1898
- In Re the Transfer Tax Upon the Estate of PellNew York Court of Appeals · 1902
3Cited by16 opinions
- Wheeler v. WeightmanSupreme Court of Kansas · 1915
- Trustees', Executors' & Securities Ins. v. HootonSupreme Court of Oklahoma · 1915
- Commerce-Guardian Trust & Savings Bank v. StateMichigan Supreme Court · 1924
- Franklin Society for Home Building & Savings v. BennettNew York Court of Appeals · 1939
- Lee v. State Tax CommissionSupreme Court of Alabama · 1929
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