McRae v. Atlantic & North Carolina Rail Road
Supreme Court of North Carolina
Appeal from an interlocutory order of the "Court of Equity of Cumberland, dissolving an injunction-, Shepheed, J., presiding. The plaintiffs gave their note to the Atlantic and North •Carolina Rail Road Company for $250, and, thereupon, the the plaintiff, McRae, who was the principal in the note, claimed to be entitled to two and a half shares of the stock of the said company.
Read the full summary
Appeal from an interlocutory order of the "Court of Equity of Cumberland, dissolving an injunction-, Shepheed, J., presiding. The plaintiffs gave their note to the Atlantic and North •Carolina Rail Road Company for $250, and, thereupon, the the plaintiff, McRae, who was the principal in the note, claimed to be entitled to two and a half shares of the stock of the said company. The stock was originally subscribed by a corporation called the Carolina City Land Company, and was part of 250 shares subscribed by that corporation in the year 1856, and was taken on himself by the said McRae, because…
1Opinion of the CourtPeaesok, C. J.
The injunction ought to have been dissolved on the ground that it was improvidently issued. By their own showing, the plaintiffs bring themselves within the maxim, “a party must come into equity with clean hands;” and their case falls under the principle which is acted on, both at law and in equity, i. e. the courts will not enforce an agreement which is unlawful, immoral, or against public policy, at the instance of one in pari delieto; Melvin v. Easley, 7 Jones’ Law, 356.
The bill, among other things, alleges that the note in controversy, and others of a like kind, were executed in order to…
2Cited by3 opinions
- King v. . WinantsSupreme Court of North Carolina · 1874
- Johnson v. . PittmanSupreme Court of North Carolina · 1927
- McNeill v. Railroad Co.Supreme Court of North Carolina · 1904