Columbian Book Co. v. De Golyer
Decision Date | 04 April 1874 |
Citation | 115 Mass. 67 |
Court | United States State Supreme Judicial Court of Massachusetts Supreme Court |
Parties | Columbian Book Company v. J. A. De Golyer & others & trustees |
Suffolk. Contract, for goods sold and delivered, commenced by trustee process. In the Superior Court the following facts were agreed:
On the foregoing facts the Superior Court discharged the trustees, and the plaintiff appealed to this court.
Trustees discharged.
G. W. Morse, for the plaintiff. 1. The company would be liable as trustee of its creditors before the appointment of receivers, even after the injunction against its continuing business. The appointment of receivers is within the discretion of this court; and the exercise of this discretion does not change the rights or relation of the parties. Gen. Sts. c. 68, §§ 35, 37. Foster v. Essex Bank, 16 Mass. 245. The receivers have power to "do all acts which might be done by such corporation if in being, that are necessary for the final settlement of the unfinished business of the corporation." Gen. Sts. c. 68, § 37.
2. The corporation has such an existence after the injunction and decree of dissolution that judgment may legally be entered against it in a case where it is the principal defendant. Then why may it not be adjudged a trustee? Hubbard v. Hamilton Bank, 7 Met. 340. The corporation is still debtor to the principal defendants, and the receivers are but agents appointed by the court to marshal the assets which belong to the creditors.
3. Even if the court should decide that the receivers and not the corporation are summoned as trustees in this case, they are not public officers within the principle that such officers cannot be charged as trustees. Gen. Sts. c. 142, § 24. Wendell v. Pierce, 13 N.H. 502. Folger v. Columbian Ins. Co. 99...
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