Stanley Matthews

“ But manifestly the statute of limitations that barred the claim against Menard, and the express lien of the mortgage, a defense not denied to have become perfect, as to them, would equally protect those on whose behalf Menard acted as agent, there being no circumstances of equity to prevent the operation of the statute in their favor. ”

“ None such are alleged; the mere ignorance of the appellants, and even the concealment of the fact that Menard was merely an agent, and of those for whom he was agent, there being no fraud on their part charged, manifestly is insufficient for that purpose. It is equally plain that there is no trust as to the 29 shares of stock alleged to have been placed in Menard's hands as a fund for the payment by him of the debt to White. ”

“ Menard at the time had associates, jointly interested with him in the purchase, and others became so subsequently, and the association was a partnership, with a view of organizing a joint-stock company for the sale of the land, for profit, in lots, and distribution of the net proceeds as dividends to shareholders, Menard being, however, the managing partner, and until April 18, 1837, holding the legal title, the indebtedness to White having been incurred in his own name, and the mortgage executed by him individually for the repayment of the same. ”