58 Barb. 453 | N.Y. Sup. Ct. | 1871
It is a mistake to suppose that the law of trusts has any application to this ease. There is but one trust created by the will, viz., the one mentioned in the third clause, and upon that no question arises here, and its only relevancy is so far as it tends to confirm the view that the fifth clause does not and was not intended to create any trust.
The third clause shows that the testator was well advised as to the proper language to be employed when the bequest was to be held in trust; and .that he did not use similar phraseology in the fifth clause, goes only to show that the devise therein mentioned was not intended by him to be construed otherwise than by its terms he has
The question whether the property, with that which the synod now holds, would exceed in amount the sum to which its charter restricts it, cannot be tried in this action. That question is not to be determined collaterally, but only in a direct proceeding by the State. The condition imposed in the act of incorporation is not against taking, but against taking and holding. (See Runyan v. Coster, 14 Peters, 128, and cases there reviewed.) The corporation, therefore, can take. Whether it can hold, is another question, not necessary nor proper in this collateral way to be considered; which is purely one of public policy, with which individuals have no concern, but in which the State, as the sovereign, is alone interested, and which it may either raise or waive, according to its pleasure. (Humbert v. Trinity Church, 24 Wend. 630. Bogardus v. Trinity Church, 4 Sandf. Ch. 758. In re Ref. Pres. Church, 7 How. Pr. 476. Trustees of Vernon v. Hills, 6 Cowen, 23. All Saints Church v. Lovett, 1 Hall, 191. Angell & Ames on Corp. 746, 747, and cases there cited.)
The judgment of the special term should be reversed, and judgment ordered in accordance with this opinion, (Edmonston v. McLoud, &c., 16 N. Y. 543.)
Judgment reversed.
Ingraham, P. J., and Cardozo, Justice.]