Ferriday v. Middlesex Banking Co.

43 So. 403, 118 La. 770, 1906 La. LEXIS 852
CourtSupreme Court of Louisiana
DecidedDecember 10, 1906
DocketNo. 16,386
StatusPublished
Cited by6 cases

This text of 43 So. 403 (Ferriday v. Middlesex Banking Co.) is published on Counsel Stack Legal Research, covering Supreme Court of Louisiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Ferriday v. Middlesex Banking Co., 43 So. 403, 118 La. 770, 1906 La. LEXIS 852 (La. 1906).

Opinions

NICHOLLS, J.

Applicants in this matter are the Middlesex Banking Company, alleging itself to be a corporation organized under and domiciled in the state of Connecticut, the Southern Land Company, a corporation organized and domiciled in the state of Tennessee, and the Realty Investment Company, a corporation organized under and domiciled in the state of New Jersey.

The Realty Investment Company alleges:

“That it is the owner of a plantation in the parish of Concordia, known as the ‘Helena Plantation,’ worth about $60,000; that some years ago it laid off a town site named Ferriday upon part of said plantation, divided the same into lots and squares, and sold portions thereof to various persons, most of whom had been made defendant in the suit thereinafter mentioned; that said sales were made by warranty deed, the title to which it was bound to defend.
“That petitioner the Realty Investment Company acquired said plantation on the 1st day of October, 1902, by a deed from the Southern Planting Company, a corporation organized under the laws of the state of Minnesota, and domiciled at St. Paul, in said state; that the Southern Planting Company acquired said property on January 4, 1906, by deed from William Lawrie, who acquired said property in November, 1895, by deed from petitioner the Southern Land Company ; that petitioner the Southern Land Company acquired said property by a, deed from the Farm Land Company, of date March 9, 1895, and the Farm Land Company acquired said property -by deed from Joseph C. Ferriday, of date the 2d day of February, 1893.
“That at the time of the transfer of said property by the said Ferriday to the Farm Land Company there was a private, unrecorded agreement between the said Ferriday and the Farm Land Company, of which petitioner the Realty Investment Company never had any notice, and by which it is not bound, whereby, on the happening of certain conditions prior to 'January 1, 1894, this property was to be transferred to Ferriday, if he so requested, which conditions were never complied with, and which agreement failed because of the failure of the conditions.
“That thereafter, in the year 1894, another agreement, verbal in its nature, and unrecorded, was made between Ferriday and the Farm Land Company and the Middlesex Banking Company, of which petitioner the Realty Investment Company never had any notice, express or implied, whereby they agreed upon certain conditions to retransfer said property to Ferriday, which con■ditions never were complied with by the said Ferriday, and never became operative between the parties, but that preliminary to the execution of said agreement the said Ferriday issued a mortgage upon said property to the Middlesex Banking Company for about fifty-three thous- and dollars ($53,000); that said Ferriday died in December, 1894. and the Middlesex Banking Company and the Farm Land Company made application to Ferriday’s widow and heirs offering to permit them to carry out the verbal agreement made with Ferriday relative to' the retransfer of the property, and gave them the benefit of said agreement, if they so desired, but that the said widow and heirs of Ferriday positively refused to carry out said agreement in any respect, and thereupon, as a matter of precaution, to cut off any interest they might thereafter claim under said agreement, the widow and major heirs of said Ferriday executed quitclaim deeds of their interest in the said Helena Plantation to the Southern Land Company, which was then under an agreement for the purchase of said property from the Farm Land Company, and to whom deed was made by the Farm Land Company a few days later.
“That at that time two of the heirs of said Ferriday were not of age, to wit, B. Pendleton Ferriday and Emily A. Ferriday, but they were respectively 16 and 17 years of age, and, the parties being unable to make any agreement [773]*773■with these minors whatsoever, the said minors voluntarily executed an agreement to the effect that when they became of age they would execute similar quitclaim deeds to said property to the Southern Land Company.
“That thereafter, in the year 1895, the Middle-sex Banking Company, under the advice of counsel, took proceedings to foreclose the mortgage put upon the Helena Plantation in the Tenth judicial district court in and for the parish of Concordia, state of Louisiana, where said plantation was situated, and conducted the said proceedings against the said minors, who were absentees, by the appointment of a curator ad hoc to represent them; said proceedings being conducted in strict accordance with law, and having for its object to cut off whatever possible claim the minors might pretend to set up in and to said property under the verbal agreement aforesaid.
“That the said two minor heirs' of Eerriday were B. Pendleton Eerriday and Emily A. Eerriday, who_ is now the wife of John D. Vincent, and who live, respectively, the one in Natchez, Miss., and the other in Vicksburg, Miss.
“That the said two heirs of J. C. Eerriday, after they became of age, stood by in silence, without giving any intimation of their claim, and saw your petitioner the Realty Investment Company in good faith buy said property, exploit it, improve its value, lay off a town site, divide it into town lots, and sell said property to innocent purchasers, and on or about the 23d day of Eebruary, 1904, the said B. Pendleton Eerriday and the said Sirs. Emily A. Eerriday, wife of John D. Vincent, aided, authorized, and assisted by her said husband, acting by and through Wade R. Young, their counsel, who resides in Natchez, Miss., filed a suit against your petitioners in the Tenth judicial district court' for the parish of Concordia, state of Louisiana, seeking to recover from your petitioner the Realty Investment Company a one-third undivided interest in the said Helena Plantation, and seeking to obtain from your petitioner an accounting for rents and revenues, and an accounting of the amount due on the mortgage of their ancestor, seeking an accounting of the community which existed between their father and mother, and seeking an accounting from your petitioner the Realty Investment Company of such town lots as it had sold up to that date, and asking a partition of the property by licitation.
“That the said plaintiffs in said cause being citizens of the state of Mississippi, and your petitioners herein being citizens of different states, removed said suit into the Circuit Court of the United States for the Western district of Louisiana.
“That the plaintiffs in said cause remodeled their pleadings in the said Circuit Court of the United States to conform to proceedings in a court of equity. Your petitioners demurred to said supplemental and amended bill. The demurrer was overruled. Your petitioners answered the said bill. Replication was filed, and the proofs, in enormous volume, were taken, and the ease was called for trial on the merits at the April, 1906, .term of said court at Monroe, La.
“That said cause was submitted by the complainants at that term of the court, and the same was continued for hearing at the May term of court at Alexandria, La., by consent of all the parties.

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Bluebook (online)
43 So. 403, 118 La. 770, 1906 La. LEXIS 852, Counsel Stack Legal Research, https://law.counselstack.com/opinion/ferriday-v-middlesex-banking-co-la-1906.