Summary

John McLean King's Heirs v. Thompson — Opinion of the Court

If the money has been judiciously expended, under such circumstances as to entitle the complainant to a lien, the court must give effect to it. It is an equitable mortgage, and in a court of chancery, is as binding on the parties as if a mortgage in form had been duly executed.
Suppose George King, for the purpose of improving this property, had borrowed from the complainant 4000 dollars, and had executed a mortgage on the same property, to secure the payment of the money. Could the creditors of King complain of the lien of the mortgage? It is clear they could not.
Source: Wikisource

John McLean King's Heirs v. Thompson — Opinion of the Court

In no point of view could such a contract be considered voluntary. There was not only a good consideration, that of natural affection; but a valuable one. To constitute a valuable consideration, it is not necessary that money should be paid: but, if, as in this case, it be expended on the property, on he faith of the contract, it constitutes a valuable consideration.
The debts of George King for the years 1812, 1813 and 1814, amounted to about 13,000 or 14,000 dollars, of which 11,000 dollars were due to the Bank of Columbia.
Source: Wikisource

John McLean King's Heirs v. Thompson — Opinion of the Court

It was a contract executed in every thing but a conveyance, and this equity will enforce.
Although it sometimes comprehends all conveyances without any pecuniary consideration, or valuable consideration; yet when it is used to indicate that species of conveyance which equity will not aid or enforce, it means that conveyance which has no meritorious consideration, either good or valuable. Equity is remedial only to those who come in upon an actual consideration. But there are precedents of relief where it is a provision for children.
Source: Wikisource

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