Escrow

“ A proof to this can be seen in the preceding section, where an individual must give a security deposit to the community to ensure that the community will have funds to be paid from when the issue is finally dealt with by the community members and the court. Certainly then, without an escrow option an individual will have no power to collect if the guilty chooses not to pay. ”

“ But this memorandum is evidently not a complete expression of the agreement between the parties, and indeed is unintelligible except by reference to the contract of sale. It does not mention the names of the parties or either of them; does not specify what 'settlement' is to be made, nor where; does not state by whom 'deed and abstract' are to be placed in escrow, nor when, nor for what purpose. ”

“ Too much stress cannot be laid on the necessity for consulting the statute. Even in the case of an ordinary escrow, nothing passes by the deed until the condition is performed. Calhoun County v. Emigrant Co., 93 U.S. 124. Here the condition prescribed by the statute as that upon which the delivery was to be made to the railroad company, and on which the bonds were to be perfected instruments in its hands, was never performed. On this point the statute seems to be very simple and clear. ”

“ If further circumstances are necessary, in the present case, to remove the presumption, that the vendor intended to rely upon the lien, they will be found to exist. Holding back the deed, or what is equivalent, depositing it as an escrow, until after the first payment, has always been considered as indicating the intention to rely upon the lien: and if so, the delivery of the deed, after the first payment was made, equally manifests an intention to relinquish the lien. ”

“ Accordingly, a deed of conveyance was executed by the agents, dated the 13th day of February 1796, to certain grantees named by the purchasers, to wit, William Wetmore, Leonard Jarvis and Henry Newman, in trust for the purchasers; and the same was duly placed in the hands of Mr. Minot, as an escrow, and negotiable notes, with approved indorsers, were duly delivered to the agents, by all the purchasers, for their respective shares of the purchase-money. ”

“ The modern escrow system was originated by this Company. It was designed to make real estate transactions convenient and safe. A highly trained personnel and complete and convenient facilities provide efficient service to buyer and to seller. ”

“ VIOLATIONS NOT CHARGED— If the issuer or other person described in subparagraph (A) is not charged with any violation of the Federal securities laws before the expiration of the effective period of a temporary order under subparagraph (A) (including any applicable extension period) , the escrow shall terminate at the expiration of the 45-day effective period (or the expiration of any extension period, as applicable) , and the disputed payments (with accrued interest) shall be returned to the issuer or other affected person. ́ ́. ”

“ Embezzlement or theft by a servant of his master's goods of 40s. or more is a felony.
No one shall forge a deed of land, charter, sealed writing, court roll or will.
No one shall libel or slander so as to cause a rebellion.
Cut-purses and pick-purses shall not have benefit of clergy.
A debtor may not engage in a fraudulent collusion to sell his land and goods in order to avoid his creditors. ”

“ If it is inconvenient, out of pure friendship and humanity, a little time is given upon a bond and judgment, which is no sooner signed, &c. but execution is taken out and levied. The honest broker appraises the effects to one third the value, the monied friend purchases them under the sheriff’s bill of sale, the deluded wretch is robbed, beggared, and branded for a villain by his fair creditors, whilst the attorney, bailiff, broker, and purchaser divide the booty, and the unhappy debtor is sent to the King’s Bench or Fleet, as an additional proof of THEIR industry. ”

“ E. By Statute of Frauds and Fraudulent Conveyances. All gifts, grants, loans, alienations or conveyances made with fraudulent purposes were valid only between the parties making them and their heirs, assigns, and administrators, and in no way barred the action of creditors. [163] A conveyance of goods or chattels, without a valuable consideration, was considered fraudulent, unless it was made by a will duly proved and recorded or a deed acknowledged and proved. By act of 1805, such recording had to be done within nine months to be valid against creditors or future purchasers. ”

“ In cases of forfeiture the courts may give judgment according to equity.
Jury to assess damages when the sum is uncertain. Sec. 26. And be it further enacted, That in all causes brought before either of the courts of the United States to recover the forfeiture annexed to any articles of agreement, covenant, bond, or other speciality, where the forfeiture, breach or non-performance shall appear, by the default or confession of the defendant, or upon demurrer, the court before whom the action is, shall render judgment therein for the plaintiff to recover so much as is due according to equity. ”

“ This case involved the meaning and application of the word 'fraud,' in the clause under consideration,-'no debt created by fraud or embezzlement of the bankrupt, or by his defalcation as a public officer, or while acting in any fiduciary character, shall be discharged,' etc. An executor sold certain bonds which he had received on the sale of the property belonging to the estate, the proceeds of which the will directed him to distribute in a certain way. ”

“ Nicoll, 4 Pet. 295, and must be considered as binding on court and jury, in deciding on this part of the case.
'To taint a transaction with fraud, both parties must concur in the illegal design; it is not enough, to prove fraud in the debtor; he may lawfully sell his property, with the direct intention of defrauding his creditors, or prefer one creditor to another; but unless the purchaser or preferred creditor receives the property with the same fraudulent design, the contract is valid against other creditors or purchasers who may be injured by the transaction. ”

“ The all-embracing words 'any deed, power of attorney, order, certificate, receipt, or other writing in support of or in relation to any account or claim with intent to defraud the United States, knowing the same to be false, altered, forged, or counterfeited,' leave room for no other conclusion. ”

“ Where goods are purchased in several parcels, to be paid for at a future day, the whole, within the meaning of the Statute of Frauds, constitutes but one contract, and the delivery of part to the purchaser is sufficient to take the case out of the operation of the Statute of Frauds. ”

“ That the conveyance from the bankrupt to his son may be decreed to be fraudulent, null, and void. 2. That the equities and personal property therein described may be decreed to the complainant. 3. That if the court should be of the opinion that he, the complainant, is not entitled to all of the equities described, then that his pro rata in the same may be decreed to him, and that the $4,000 paid by the son, if found to have been paid out of his own money, may be decreed to have been paid in fraud and with notice that he is not entitled to recover the amount. ”

“ The law which is considered by the plaintiff's counsel as limiting this power in the case at bar, is the statute of 13 Eliz. ch. 5. against fraudulent conveyances, which is understood to be in force in the county of Washington. That statute enacts, that 'for the avoiding and abolishing of feigned, covenous, and fraudulent feoffments,' &c. 'which feoffments,' &c. 'are devised and contrived of malice, fraud, covin, collusion, or guile, to the end, purpose, and intent, to delay, hinder, or defraud creditors, and others, of their just and lawful actions,' &c. ”

“ The section reads as follows:
'Every president, director, cashier, teller, clerk, or agent of any association who embezzles, abstracts, or willfully misapplies any of the moneys, funds, or credits of the association; or who, without authority from the directors, issues or puts in circulation any of the notes of the association; or who, without such authority, issues or puts forth any certificate of deposit, draws any order or bill of exchange, makes any acceptance, assigns any note, bond, draft, bill of exchange, mortgage, judgment, or decree ”

“ Larceny, as you may or may not know, is the act of taking away the goods or chattels of another without his knowledge or consent, and embezzlement is the fraudulent appropriation to one’s own use of what is intrusted to one’s care and management, especially money. Larceny as bailee, on the other hand, is simply a more definite form of larceny wherein one fixes the act of carrying away the goods of another without his knowledge or consent on the person to whom the goods were delivered in trust that is, the agent or bailee. ”

“ If the jury shall find from the evidence in the cause, that the invoices of the goods in question were made up, with intent, by a false valuation, to evade or defraud the revenue, the plaintiffs are entitled to recover; although the jury should also find from the evidence, that the said goods have been passed through the custom-house at New York, by the collector thereof, and the duties calculated by him on said invoices, shall have been paid or secured to be paid, and the said goods delivered by said collector to the importer. ”

“ It is also true, in the case of a corporation, as in that of a natural erson, that any conveyance of property of the debtor, without authority of law, and in fraud of existing creditors, is void as against them. ”

“ As forcibly suggested by counsel, a creditor, who has been defrauded by misrepresentation of the real capital of the company, has his remedy in an action of tort against all who participated in the fraud. ”

“ The person of a debtor, when there is not strong presumption of fraud, ought not to be continued in prison, after he shall have delivered up his property for the benefit of his creditors, in such manner as shall be prescribed by law. ”

“ We have been unable to find any one well-considered case to sustain the right of an executor to become the purchaser of property which he represents, or any portion of it, even at a fair price at public sale, without fraud. ”

“ By entertaining the case, as presented in the bill, and directing an answer, the court assumes that, if the complainant can establish the fraud in the transfer of the notes as charged, he is entitled to its decree for the whole amount of his purchase; for, as we have seen, a court of equity must act, if at all, ex vigore, and carry into execution the purchase as it has been made. ”

“ Had the company, instead of putting itself at the mercy of a thirty-five-dollar-a-week clerk, placed double combinations on the loan and deposit vaults, and employed two men, one to act as a check upon the other, to handle its securities, or had it merely adopted the even simpler expedient of requiring an officer of the company to be present when any securities were to be removed from the vaults, John would probably not now be in jail. ”

“ Thus, in the Criminal Code of Illinois, it is declared to be sufficient to allege, generally, in the indictment, an embezzlement, fraudulent conversion, or taking, with intent to embezzle and convert funds of any person, bank, corporation, company, or copartnership, to a certain value or amount, without specifying any particulars of such embezzlement. ”

“ The answer of the appellant-after a general denial of fraud and unfairness, and after admitting the taxing of the costs, the writing of the execution, the description of the land to be levied upon, the directions of the sheriff, and the preparation of the advertisements, all by himself-next insists upon the regularity and propriety of all these acts. He then proceeds to aver the performance of every prerequisite of the law with respect to such sales. ”

“ If a merchant should direct his clerk or other agent to 'investigate and adjust the claim' of a third party upon a prescribed basis, and the adjustment was made accordingly, can it be doubted that the merchant might thereafter, because he had come to the conclusion that the claim was tainted with fraud or had been already fully pa d, or for any other reason, or as a matter of choice, without assigning any reason, decline to recognize what had been done as of any validity, and withdraw the authority under which the proceeding had been taken? ”

“ In cases unaffected with fraud the assignee stands in the situation of the insolvent debtor, and succeeds to all his property and rights of property, whether legal or equitable, and the rule is supported by the highest authority, that the assignment passes all his property, whether mentioned or not in the schedule to the assignee ”

“ The object of the change is to prevent secret and fraudulent conveyance of property, with the view of defrauding creditors. A common and successful contrivance for this purpose, is by placing the title of the property in the name of a third person, while the whole of the beneficial interest is in another, thereby concealing it from the creditor, and embarrassing his remedy against the property of the debtor. ”

“ It is different from the case of a lost note of bond. Fraud is charged, and documents exist which in equity ought not to exist. I think the complainant is entitled to have the fraudulent transaction wiped out, and to be restored to his original status. ”

“ The court may, on the application of the assignee, or of any creditor, or of the bankrupt, or without any application, examine upon oath the bankrupt or any person tendering or who has made proof of a claim, and may summon any person capable of giving evidence concerning such proof, or concerning the debt sought to be proved, and shall reject all claims not duly proved, or when the proof shows the claim to be founded in fraud, illegality, or mistake. ”

“ The charge, it is, therefore, submitted, annuls the whole law of notice as to fraudulent conveyances, and makes every one a fair purchaser, who is not a participator in the fraud; so that a wife or father have only to remain wilfully ignorant of a husband's fraud, and a family settlement will be valid of property acquired by highway robbery. ”