Case Name: Samuel J. Goldsmith et al., as Trustees in Bankruptcy of Fiss, Doerr & Carroll, Appellants, v. Arthur J. Baldwin et al., as Surviving Trustees under the Will of Joseph D. Carroll, Deceased, Respondents, Impleaded with Others
Court: New York Court of Appeals
Jurisdiction: New York
Decision Date: 1922-01-31
Citations: 232 N.Y. 614
Docket Number: 
Parties: Samuel J. Goldsmith et al., as Trustees in Bankruptcy of Fiss, Doerr & Carroll, Appellants, v. Arthur J. Baldwin et al., as Surviving Trustees under the Will of Joseph D. Carroll, Deceased, Respondents, Impleaded with Others.
Judges: 
Reporter: New York Reports
Volume: 232
Pages: 614–615

Head Matter:
Samuel J. Goldsmith et al., as Trustees in Bankruptcy of Fiss, Doerr & Carroll, Appellants, v. Arthur J. Baldwin et al., as Surviving Trustees under the Will of Joseph D. Carroll, Deceased, Respondents, Impleaded with Others.
Equity — cancellation — action to set aside and have declared null a mortgage on property owned by a corporation, transferred by it to its treasurer and after execution by him of mortgage to secure a personal indebtedness retransferred to corporation.
Goldsmith v. Baldwin, 194 App. Div. 966; affirmed.
(Argued January 17, 1920;
decided January 31, 1922.)
Appeal, by permission, from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered January 6, 1921, affirming a judgment in favor of defendants entered upon a dismissal of the complaint by the court on trial at Special Term. The action was to have set aside and declared null a mortgage executed by defendant Bradley to defendant trustees. The complaint alleged that the defendant Fiss, Doerr & Carroll Horse Company owned prior to December, 1916, a certain apartment building, No. 310 West Eighty-sixth street, New York city; that on and prior to December 1, 1916, William Bradley was the treasurer and a director of the horse company, and was personally indebted to defendant trustees in the sum of $100,000, growing out of the purchase by Bradley from defendant trustees of certain stock of the horse company; that defendant trustees had, prior to December 1, 1916, demanded of Bradley that he either pay this sum or give security therefor; that shortly prior to December 1, 1916, it was agreed that Bradley should give defendant trustees a $100,000 mortgage on the Eighty-sixth street property, and that afterwards defendant trustees learned that title to the property stood in the name of the horse company; that thereafter the horse company transferred the property to Bradley without any consideration; that Bradley mortgaged the property to defendant trustees in the sum of $100,000, subject to existing mortgages, and that Bradley retransferred the property to the horse company March 17, 1917.
Nathan Ottinger and Irving L. Ernst for appellants.
Martin Conboy, Edwin N. Moore and Leonard D. Baldwin for respondents.

Opinion:
Judgment affirmed, with costs; no opinion.
Concur: His cock, Ch. J., Hogan, Pound, McLaughlin, Crane and Andrews, JJ. Not voting: Cardozo, J.