Martin v. Price

Supreme Court of South Carolina

Martin v. Price

19 S.C. Eq. 412

DecidedOctober 15, 1845

StatusPublished

This text of 19 S.C. Eq. 412 (Martin v. Price) is published on Counsel Stack Legal Research, covering Supreme Court of South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Martin v. Price, 19 S.C. Eq. 412 (S.C. 1845).

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Opinions

Curia, per Dunkin, Ch.

As to so much of the appeal as relates to the claims of Mrs. Eliza Price, the decree of the circuit court is affirmed ; but it was assumed in the decree, that the funds of the assigned estate of Lothrop were inadequate to discharge the preferred debts. This is said to be a misapprehension, and that it is susceptible of proof, that the preferred creditors have been satisfied. In that case, the surplus is distributed among the general creditors o'f the assignor, “ rateably and proportionally, according to the amount of their debts,” as provided by the deed of the 12th Sept. 1825.

Although the order of Jan. 1832, directed a sale of the lot in Cheraw, the premises are yet unsold, and constitute part of the assigned estate of Lothrop.

It is ordered and decreed-, that the lot in Cheraw be sold by one of the masters of this court, at such time and on such terms as the solicitors of the creditors shall fix.

It is further ordered, that the account of the defendant, James Adger, be referred to the master to report thereon; and that the master also report to the court, the creditors of S. H. Lothrop, who are yet unpaid, and who may be entitled to payment under the provisions of his assignment. All questions in relation to the accounts of the administrator, and the appropriation of the fund, being reserved until the hearing of the report. In other respects, the decree of the circuit court is affirmed, and the appeal dismissed.

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Curia, per Dunkin, Ch.

As to so much of the appeal as relates to the claims of Mrs. Eliza Price, the decree of the circuit court is affirmed ; but it was assumed in the decree, that the funds of the assigned estate of Lothrop were inadequate to discharge the preferred debts. This is said to be a misapprehension, and that it is susceptible of proof, that the preferred creditors have been satisfied. In that case, the surplus is distributed among the general creditors o'f the assignor, “ rateably and proportionally, according to the amount of their debts,” as provided by the deed of the 12th Sept. 1825.

Although the order of Jan. 1832, directed a sale of the lot in Cheraw, the premises are yet unsold, and constitute part of the assigned estate of Lothrop.

It is ordered and decreed-, that the lot in Cheraw be sold by one of the masters of this court, at such time and on such terms as the solicitors of the creditors shall fix.

It is further ordered, that the account of the defendant, James Adger, be referred to the master to report thereon; and that the master also report to the court, the creditors of S. H. Lothrop, who are yet unpaid, and who may be entitled to payment under the provisions of his assignment. All questions in relation to the accounts of the administrator, and the appropriation of the fund, being reserved until the hearing of the report. In other respects, the decree of the circuit court is affirmed, and the appeal dismissed.

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Bluebook (online)

19 S.C. Eq. 412, Counsel Stack Legal Research, https://law.counselstack.com/opinion/martin-v-price-sc-1845.