Perry v. Nixon
Perry v. Nixon
Opinion of the Court
The only question argued in this case, and on which it will be necessary to express an opinion, is whether the complainant has entitled himself to relief in this Court. It is understood from the brief and the admissions made in the argument, that Perry had recovered a judgment and sued out an execution at law-, which was levied on the trust property, when an injunction was moved for and obtained by these defendants ; this bill was then filed, and the injunction heretofore obtained by the defendants was dissolved and their bill dismissed. In the meantime the cestui que trust, Tate, went from and without the limits of the State. The' defendants admit that the trust property is the only estate of the cestui que trust, Tate.
Before a creditor seeking relief touching the personal assets of his
From these cases and authorities it is clear that the plaintiff is entitled to the relief which he seeks. He has recovered judgment, sued out execution and levied it on property in which his debtor has the equitable but not the legal estate. This entitles him to the aid of this Court, for he has shown a legal title to the relief sought.
But it is said the party ought to have gone one step farther, and compelled the debtor to assign his interest by ca. sa. This in this case could not have been resorted to, for the debtor had left the State before the injunction was dissolved. I do not think, however, that it is necessary in any case. The party must show an execution returned nulla bona, or levied on the trust property, before he can claim the intervention of the Court of Equity to relieve him touching the personal assets of his debtor. This seems .to furnish a better and higher guard against unnecessary applications to this Court, than an assignment under a ca. sa. would. For an assignment might be forced and obtained, when the debtor’s other funds were amply sufficient to pay the debt. But there can be no necessity for an assignment to entitle a creditor to proceed in equity; the fact that his debtor is in equity regarded as the owner of property, which at law he is not, entitles the creditor to its aid, to make it available in payment of his legal demand. It is not necessary that he should have either legal or equitable title to the property; his debt legally established, and pursued to every available extent at law, entitles him to have the equitable assets of his debtor applied to its payment. I am satisfied that the Chancellor’s decree is correct in principle; but as it may have (unintentionally) charged the trustee personally with the debt of the cestui que trust, from the general words used in the decree, it will be necessary in this respect to modify it.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.