First National Bank v. Massachusetts Loan & Trust Co.

Massachusetts Supreme Judicial Court

First National Bank v. Massachusetts Loan & Trust Co.

123 Mass. 330, 1877 Mass. LEXIS 280

CourtMassachusetts Supreme Judicial Court

DecidedNovember 15, 1877

StatusPublished

Cited by7 cases

This text of 123 Mass. 330 (First National Bank v. Massachusetts Loan & Trust Co.) is published on Counsel Stack Legal Research, covering Massachusetts Supreme Judicial Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

First National Bank v. Massachusetts Loan & Trust Co., 123 Mass. 330, 1877 Mass. LEXIS 280 (Mass. 1877).

Pincite

Opinion

Ames, J.

We see no ground on which these exceptions can be sustained. The position of the defendant in relation to the property was that of a pledgee. It is urged that the goods, at the time of the transfer to the plaintiff, were in the actual posr session of the defendant, but this fact does not vary the case. The written assignment does not purport to be a sale of the goods, but of all the defendant’s rights under the contract, and its obvious purpose was to substitute the plaintiff in the place of the original pledgee. What the defendant undertook to convey was all its “ right, title and interest in and under the contract, together with all the property therein mentioned.” The only express guaranty entered into by it was as to the amount remaining due upon the original contract. If, in addition to this, any guaranty can be said to have been implied, it certainly could not go beyond an assurance that it had not released or impaired any of its rights as pledgee, and that, for aught it knew to the contrary, the property was what the contract purported. 2 Addison on Con. (3d Am. ed.) § 614. In a conveyance of all of any party’s right, title and interest in any subject matter, any warranty, express or implied, must be understood as limited by the granting clause, unless otherwise distinctly provided. Allen v. Holton, 20 Pick. 458. Hoxie v. Finney, 16 Gray, 332. Exceptions overruled.

Free access — add to your briefcase to read the full text and ask questions with AI

Ames, J.

We see no ground on which these exceptions can be sustained. The position of the defendant in relation to the property was that of a pledgee. It is urged that the goods, at the time of the transfer to the plaintiff, were in the actual posr session of the defendant, but this fact does not vary the case. The written assignment does not purport to be a sale of the goods, but of all the defendant’s rights under the contract, and its obvious purpose was to substitute the plaintiff in the place of the original pledgee. What the defendant undertook to convey was all its “ right, title and interest in and under the contract, together with all the property therein mentioned.” The only express guaranty entered into by it was as to the amount remaining due upon the original contract. If, in addition to this, any guaranty can be said to have been implied, it certainly could not go beyond an assurance that it had not released or impaired any of its rights as pledgee, and that, for aught it knew to the contrary, the property was what the contract purported. 2 Addison on Con. (3d Am. ed.) § 614. In a conveyance of all of any party’s right, title and interest in any subject matter, any warranty, express or implied, must be understood as limited by the granting clause, unless otherwise distinctly provided. Allen v. Holton, 20 Pick. 458. Hoxie v. Finney, 16 Gray, 332. Exceptions overruled.

Cite This Page — Counsel Stack

Bluebook (online)

123 Mass. 330, 1877 Mass. LEXIS 280, Counsel Stack Legal Research, https://law.counselstack.com/opinion/first-national-bank-v-massachusetts-loan-trust-co-mass-1877.

Opinion

Related

Cite This Page — Counsel Stack