McCreery v. Hamlin
McCreery v. Hamlin
Opinion of the Court
Judicial sales of every description, whether by an order of the Orphans’ Court, under decree of a court of chancery, or by sheriffs’ or constables’ sales, are by public and not by private sale. And the same rule applies when it partakes of the nature of a judicial sale; as, for example, sales by trustees, assignees under the bankrupt or insolvent laws, or by executors or administrators in pursuance of a power contained in a will. Indeed it may be assumed as a principle without an exception, that unless otherwise specially directed, all property of a fiduciary character is required to be sold by public outcry. The rule has been thus established to prevent or check fraud, and because it is justly supposed to increase the price when there is free and open competition among the bidders. And there cannot be a stronger illustration of the wisdom of the rule than is here presented. For it manifestly appears, that by management and contrivance, redounding but little to the credit of all engaged in it, the creditors have been defrauded by a mock sale, and the title substantially vested in the executrix and her children at a mere nominal price, not one cent of which ever was or intended to be paid. The testator, after the death of his wife, allows his estate to be disposed of at public sale, and in a subsequent clause he directs, that if after his decease his executors should be of opinion it would be for the interest of his family to dispose of his real estate, and can satisfy the Orphans' Court of the
Judgment affirmed.
Reference
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