Summary

Portrait of Levi Woodbury Levi Woodbury Gratz's Executors v. Cohen — Opinion of the Court

She did consult two intelligent business friends. Full time was given to make inquiries and calculations, rather than using haste. Though Mrs. Phillips did not confer with the plaintiffs, she was not bound to consult the Cohen heirs more than others; and the contract by Simon Gratz to pay over any surplus secured any eventual interest of theirs as fully as they themselves could have done, and wisely put an end to a protracted family litigation, as expensive and ruinous as it was derogatory.
Source: Wikisource

Portrait of Levi Woodbury Levi Woodbury Gratz's Executors v. Cohen — Opinion of the Court

Equity gives effect to relatively short lapse of time, discouraging claims not promptly made, especially where there is no personal disability or other impediment.
No court has been more emphatic in its language favoring lapse of time than this court. Prevost v. Gratz, 6 Wheaton, 481: 'Length of time necessarily obscures all human evidence, and it thus removes from the parties all immediate means to verify the nature of the original transaction; it operates by way of presumption in favor of innocence and against any imputation of fraud.
Source: Wikisource

Portrait of Levi Woodbury Levi Woodbury Gratz's Executors v. Cohen — Opinion of the Court

But to remove all doubt as to the fairness and fulness of the consideration, Simon Gratz further agreed to pay over to Mrs. Phillips any surplus the lands might yield after paying all reasonable expenses and legal claims. This cures every exception to the inadequacy of the consideration.
If the surplus, after an inquiry into the matter, and after allowing to Michael Gratz or his estate and executors all which is just, should be considerable, an administrator of Mrs. Phillips could enforce its payment on this agreement
Source: Wikisource

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