Maryland Reports; Cases Adjudged in the Court of Appeals of Maryland Volume 111

Maryland Reports; Cases Adjudged in the Court of Appeals of Maryland Volume 111

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1910 edition. Excerpt: ... equity proceeding instituted in a Federal lourt in the State of New York by the firm of William Lan.ahan and Son, then composed of Samuel J. Lanahan, Wil liam Lanahan and ('harles M. Lanahan, Samuel J. llanahan had sworn that the trade marl: was worth a million dollars. These allegations of fraud, so far as they or any of them are inconsistent with the record which is the foundation of the VOL.111 25 Opinion ot the Court. 111 suit, must be disregarded by the Court. The averment that Samuel J. Lanahan failed to account for the merchandise and fixtures is shown by the record to be untrue. The accounts of the trustees very clearly show that these assets of the estate were accounted for and distributed by them. The allegation of fraudulent appropriation of the assets of the firm are too loose and indefinite to be noticed. As to the trade-mark, brands and good will. It is quite true that these were not shown in the schedules furnished by Samuel J. Lanahan to the trustees; but it does not follow that they were fraudulently omitted therefrom. While it was the duty of the trustees in the sale of the business to obtain from the purchaser the then fair value of these assets, it might well have been considered, and doubtless was so considered, that in a schedule of this character it was not necessary to include these things. Certainly the Court could not say from the mere fact that they were not mentioned that they were omitted with a fraudulent purpose. The record shows that sometime after the first of June 1874, Samuel J. Lanahan and William Lanahan, J r., formed a new firm under the old name of-Villiam Lanahan & Son, and that it made purchases of the assets and property of the old firm from the trustees. They bought the warehouse...
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Product details

  • Paperback | 262 pages
  • 189 x 246 x 14mm | 472g
  • United States
  • English
  • black & white illustrations
  • 1236852818
  • 9781236852816