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Van Vechten v. TerryVan Vechten v. Terry

New York Court of Chancery
Sep 15, 1816
Reporters:
The Chancellor.

[ * 198]

The trustees were selected in this case to hold and represent ‍‌​‌​‌‌​​​‌​​‌‌‌​‌​‌​‌‌​‌​‌​​​‌​​‌‌‌​​‌​‌​‌​​‌​​​​​​​​‌‌‌‌‌‌​‌‌‌‌​‌​​‌‌‌‌‌​​‌​‌​​‌‌​​‌​‌‌‌​​​​​‌​‍the property, for the sake of convenience, and because the subscribers were too numerous to hold and manage the property as a copartnership. The trustees are sufficient ‍‌​‌​‌‌​​​‌​​‌‌‌​‌​‌​‌‌​‌​‌​​​‌​​‌‌‌​​‌​‌​‌​​‌​​​​​​​​‌‌‌‌‌‌​‌‌‌‌​‌​​‌‌‌‌‌​​‌​‌​​‌‌​​‌​‌‌‌​​​​​‌​‍for the purpose of this bill, which is for a sale of the pledge; it would be intolerably oppressive and burdensome, to compel the plaintiffs to bring ‍‌​‌​‌‌​​​‌​​‌‌‌​‌​‌​‌‌​‌​‌​​​‌​​‌‌‌​​‌​‌​‌​​‌​​​​​​​​‌‌‌‌‌‌​‌‌‌‌​‌​​‌‌‌‌‌​​‌​‌​​‌‌​​‌​‌‌‌​​​​​‌​‍in all the cestui que trusts. The delay, and the expense incident to such a proceeding, would be a reflection on the justice of the Court. This is ‍‌​‌​‌‌​​​‌​​‌‌‌​‌​‌​‌‌​‌​‌​​​‌​​‌‌‌​​‌​‌​‌​​‌​​​​​​​​‌‌‌‌‌‌​‌‌‌‌​‌​​‌‌‌‌‌​​‌​‌​​‌‌​​‌​‌‌‌​​​​​‌​‍one of those *cases in which the general rule cannot, and need not be enforced; for the trustees sufficiently represent all the interests concerned; they were selected ‍‌​‌​‌‌​​​‌​​‌‌‌​‌​‌​‌‌​‌​‌​​​‌​​‌‌‌​​‌​‌​‌​​‌​​​​​​​​‌‌‌‌‌‌​‌‌‌‌​‌​​‌‌‌‌‌​​‌​‌​​‌‌​​‌​‌‌‌​​​​​‌​‍by the association for that purpose, and we need not look beyond them.

Demurrer overruled

Case Details

Case Name: Van Vechten v. Terry
Court Name: New York Court of Chancery
Date Published: Sep 15, 1816
Citation: 2 Johns. Ch. 197
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