Wheeler v. Emerson
Supreme Court of New Hampshire
It appeared by the disclosure of the trustee, Benjamin P. Emerson, who is a brother of Edward Emerson, the principal defendant, that on the 28th of December, 1860, said Edward being in embarrassed circumstances, and about to leave the State, and being indebted to the trustee, who was also liable as surety for said Edward to a considerable amount, mortgaged to tbe trustee certain real and personal estate, to secure his debt and liabilities, and that said Edward at the same…
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It appeared by the disclosure of the trustee, Benjamin P. Emerson, who is a brother of Edward Emerson, the principal defendant, that on the 28th of December, 1860, said Edward being in embarrassed circumstances, and about to leave the State, and being indebted to the trustee, who was also liable as surety for said Edward to a considerable amount, mortgaged to tbe trustee certain real and personal estate, to secure his debt and liabilities, and that said Edward at the same time left in the hands of the trustee certain negotiable promissory notes, indorsed by the payees thereof, for certain…
1Opinion of the CourtBellows, J.
Under the circumstances of this case we think that nothing had passed to these creditors, except Hardy and Willoughby, before the service of this process, and that the lien of this plaintiff was not affected by the subsequent assent. It is not like a case of an assignment to a third person in trust for creditors, with an acceptance of the trust and a promise to execute it; in which case it has been held that the legal estate passes, and vests in the trustee ; and a court of equity will compel an execution of the trust. 2 Kent Com., secs. 533, 729. But this is a case where the assignments are…
2Cases cited4 opinions
- Nicoll v. MumfordNew York Court of Chancery · 1820
- Gottsberger v. . TaylorNew York Court of Appeals · 1859
- Gottsberger v. SmithThe Superior Court of New York City · 1856
- Oxnard v. BlakeSupreme Judicial Court of Maine · 1858