In Re Sprague

Supreme Court of Rhode Island

In Re Sprague

48 A. 383, 22 R.I. 413

CourtSupreme Court of Rhode Island

DecidedFebruary 13, 1901

StatusPublished

Cited by1 cases

This text of 48 A. 383 (In Re Sprague) is published on Counsel Stack Legal Research, covering Supreme Court of Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

In Re Sprague, 48 A. 383, 22 R.I. 413 (R.I. 1901).

Pincite

Opinion

Per Curiam.

(1) The court is of opinion that the trustees have power under the will to transfer the property to a corporation as set out in the petition. Gen. Laws cap. 208, § 14, also gives to trustees powers broad enough to cover this case. The plan suggested, though in form a sale, is really a transfer of title to a corporation for the purpose of convenience in making sales and in managing the property. As the corporation will hold the real estate and issue stock according to its value, the stock will stand for the value of the land. No substantial interest will be affected or changed.

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Per Curiam.

(1) The court is of opinion that the trustees have power under the will to transfer the property to a corporation as set out in the petition. Gen. Laws cap. 208, § 14, also gives to trustees powers broad enough to cover this case. The plan suggested, though in form a sale, is really a transfer of title to a corporation for the purpose of convenience in making sales and in managing the property. As the corporation will hold the real estate and issue stock according to its value, the stock will stand for the value of the land. No substantial interest will be affected or changed.

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Bluebook (online)

48 A. 383, 22 R.I. 413, Counsel Stack Legal Research, https://law.counselstack.com/opinion/in-re-sprague-ri-1901.

Opinion

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