DeGray v. Mon. Beach Club House Co. 67 Eq. PER CURIAM. Decree affirmed, for the reasons given in the court of chan cery. For affirmance-Abbett, Depue, DIXON, GARRISON, LIPPINCOTT, REED, VAN SYCKEL, BOGERT, SMITH-9. For reversal-None. 1 INDEX. A. PAGE. ACCOUNTING-1. A written agreement was made between bankers, as promoters, and a number of manufacturers of paper goods, as vendors, for the organization of a corporation, to which the properties of the vendors should be conveyed, fixing the rights of all the parties. A secret agreement was subsequently made by the promoters with a part of the vendors, which gave the latter an advantage and profit over the other vendors.-Held, that a bill for an accounting of such profits by one of the vendors, a party to the first agreement only, was not subject to demurrer for multifariousness for making all the vendors with whom the secret agreement was made, parties together with the corporation and the promoters. SHUTTS v. UNITED BOX, BOARD AND PAPER Co., 225 2. To justify a bill in equity for an accounting, the issues must be so numerous, so distinct, and the evidence to sustain them so variant, technical and voluminous, that a jury is incompetent to deal intelligently with them and come to a just conclusion. DE BEVOISE v. H. & W. Co...... 3. A court of equity will not decree specific performance nor order an accounting which will serve only to aid the complainants to secure the proceeds of Sunday racing, an unlawful business, prohibited by law. ILLINGWORTH v. BLOEMECKE....... 4. H. was the physician, confidential friend and adviser of W., from whom he received $15,000, to be held in trust for her benefit. He used some of the money to pay bills for her; some he appropriated to his own use, and some he invested in a farm, and in machinery, stock and implements for operating it, taking title to the farm in the name of W. H. conducted the farm as if it were his own, operating it at a loss. W. also mortgaged the farm for $2,200, H. receiving the proceeds. Finally W. took possession of the farm and sold the stock, implements and machinery, and seeks an accounting from H.-Held, that H. is chargeable with the original $15,000, with interest, and the $2,200 raised on mortgage, with interest, but not with the income from the farm; and that he is entitled to credit for the cost of the farm and permanent improvements as of the time W. took possession, and for the moneys realized from the sale of the stock, machinery and implements, and also for all moneys paid to W. or for her use, not including any expenses of operating the farm. WIETERS v. HART.... 472 483 507 ACCOUNTING Continued. PAGE. 5. - Testator had standing to his credit on the books of a corporation a large sum as accumulations of surplus income, which was increased by dividends after his death. By his will he directed the payment of legacies and annuities, which, if paid, would necessitate the use of the fund. The executors used part of the fund to pay the annuities without having fully paid the legacies, the fund used having been made by the will subject to the payment of the annuities if the other income from the estate was not sufficient, which appeared.-Held, that the payment of the annuities was not an improper use of the fund which rendered the executors as accountants personally liable therefor, the annuitants and legatees being, with one exception, the same persons. IN RE WOOLSEY...... See EXECUTORS AND ADMINISTRATORS, 2-4; PARTNERSHIP, 1, 2. ADULTERY-See DIVORCE, 11. AFFIDAVITS-See DISCOVERY, 2. ALIMONY-1. Alimony is only allowed when the husband has been guilty of a matrimonial offence, and impotence is not such an offence. G. v. G.... 2.- A wife divorced a mensa et thoro is still under the obligation of chastity, and alimony is conditional on her performance of that obligation. Id..... 3. 4. A wife is not bound to return to the home of her husband where he is living in open adultery with another woman. FRED v. FRED.... In the absence of proof that under the laws of a sister state alimony can be given in a gross sum, the courts of this state may apply the law prevailing here in interpreting a decree of a court of such sister state, which simply allows a certain sum for alimony, and hold that such sum is an installment on account of alimony, and that the decree does not adjudge the future rights of the parties. Id..... See DIVORCE. ANNUITIES-See AccOUNTING, 5. ANSWER-1. If a defendant submits to answer he must answer fully, and not only as to his knowledge of each fact charged; he must answer if he have no knowledge, as to his information and belief regarding it. THOMPSON T. NORTH.... 574 309 30 495 495 278 2. An unqualified admission on information and belief will dispense with proof of the fact alleged. Id...... 278 3. A defendant is not, in answering, required to obtain information, not in his own or his agent's possession. Id.......... 278 PAGE. APPEAL--See WILLS, 7. ASSIGNMENT-See TRADE SECRETS. ASSIGNMENT FOR CREDITORS-Sec CHATTEL MORTGAGES, 1, 3; INSOLVENT CORPORATIONS, 13. ASSIGNMENT OF MORTGAGE-The record of an assignment of a mortgage is constructive notice of its existence and contents to one who takes a subsequent mortgage on the premises, and also that the assignor has no authority to procure the cancellation of the assigned mortgage. HIGGINS . JAMESBURG MUTUAL B. AND L. ASSOCIATION... ASSOCIATIONS-"An act for winding up voluntary associations and associations with partnership liabilities" (P. L. of 1899 p. 485) does not clothe the chancellor with power to enforce the payment of debts contracted by such associations, by an assessment against the members thereof, in a case where by a previous proceeding in chancery the business in the course of which such debts were contracted had been wound up and the property and assets of such association got in and distributed. HENRY . SIMANTON B BANKRUPTCY-1. A company was indebted in the sum of $81,200. It owned a brick-producing plant appraised at $100,000, and was capable of earning on the amount at which it was capitalized ($185,000) a fair profit. The plant had cost over $200,000, and could not be replaced for $250,000. The company had on hand a quantity of unburned bricks, later sold for $15,000. It also owned village lots worth $25,000. On its failure to pay a creditor it executed a mortgage to secure him. This creditor, before becoming such, investigated the affairs of the company and believed that the company was solvent. About a month after the execution of the mortgage the company was adjudged a bankrupt, and the trustees could secure only $75,000 for the property. -Held, that the company, at the time of executing the mortgage, was not insolvent, within Bankrupt act of July 1st, 1898, chapter 541, section 1, paragraph 15 (U. S. Comp. Stat. 1901 p. 3419), providing that a person shall be deemed insolvent when the aggregate of his property shall not, at a fair valuation, be sufficient to pay his debts. EMPIRE STATE TRUST Co. r. FISHER Co. 2. A solvent debtor giving a mortgage to secure a creditor does not give a preference, within Bankrupt act of July 1st, 1898, chapter 541, section 60 (30 Stat. p. 562; U. S. Comp. Stat. 1901 p. 3445), specifying when a person, "on being insolvent," shall be deemed to give a preference. Id.. BANKRUPTCY-Continued. 3. 4. 5. 6. 7. -The taking of security by a creditor for money presently The words "for a present consideration," in Bankrupt act PAGE. 88 88 - Under clause e in section 70 of the Federal Bankrupt act, Under section 64 of the New Jersey Corporation act, in- A mortgage given merely to secure antecedent debts is not act. See LANDLORD AND TENANT, 5, 6; MECHANICS' LIENS, 9. BILLS AND NOTES-1. After the loss of three cashier's checks 2. 602 602 522 - Quære. Has a court of law jurisdiction over a suit on a BONA FIDE PURCHASERS—A purchaser purchased at a sale |