Wyoming Reports Volume 17

Wyoming Reports Volume 17

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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. 1909 edition. Excerpt: ...bound himself, in the event that the value of the property advanced within three years, to sell, retain certain specified amounts, and pay over the surplus to Mrs. Lake. Here was a trust." The duty to sell was implied from the promise to give the grantor the surplus if anything could be made out of the property. It was also held in that case that the transaction was not a mortgage, for the reason that the previous debt of the grantor which had been a lien on the property conveyed was extinguished upon the delivery of the deed and she was released from its payment. In Cooper v. Whiting, supra, certain land upon which three mortgages were outstanding was conveyed by the mortgagor to one of the mortgagees in fee, and the latter on the same date covenanted to pay the mortgage debts and that "if he shall be enabled in a reasonable time thereafter to sell said premises for more than a sufficient sum to pay the three aforesaid mortgage debts with charges and expenses which he may incur in relation to said premises, he will pay to said Sidney (the grantor) or his legal representatives such excess." The court said: "This was a trust. Although there was no express covenant on the part of Burlew to sell, his duty to sell can easily be gathered from the agreement, and there can be no doubt that the performance of that duty would have been enforced by a court of equity. Burlew would not have been permitted to hold the land to his own use, after an opportunity presented of selling for more than enough to pay the debts." In Jones v. Kent, 80 N. Y. 585, the court was called upon to construe a written instrument in these words: "Received of J. W. Jones by agreement, one thousand shares of St. Joe Lead Stock for which I...show more

Product details

  • Paperback | 198 pages
  • 189 x 246 x 11mm | 363g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 123683822X
  • 9781236838223