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Reports of Cases in the High Court of Chancery of Maryland 1846-1854
Volume 200, Volume 2, Page 416   View pdf image (33K)
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416 HIGH COURT OF CHANCERY.
It is a bill fora foreclosure and sale of certain mortgaged
premises, the mortgage having been executed to secure the pay-
ment of various promissory notes, falling due at different dates,
and of these a schedule is annexed to the mortgage, which is
exhibited with the bill, which was filed on the 16th of May,
1849, when a portion, but nut all, of the notes had matured.
It appears by the answer, and by a copy of the deed filed
among the proceedings in the cause, that on the day of the date
of the execution of the mortgage, the said William McMakin
and John F. Forrest, partners in trade, and who as such, were
the makers of the notes designed to be secured by the mortgage,
by way of more fully securing the payment of the money, exe-
cuted to the same party, a bill of sale of their stock in trade and
fixtures, in trust, as in the instrument is expressed.
These goods, it appears, have been sold by the grantee in
the deed, for something upwards of nineteen hundred dollars,
and of the purchase money there is now stated to remain due,
about five hundred dollars. The answer takes the ground, that
the value of the goods, when they were taken possession of by
the grantee, far exceeded the amount due upon the notes at the
time the bill in this cause was filed; but there is evidence, that
the price obtained for them by the grantee, was a fair one, and
that the sale was made with advice and consent of the grantors.
Before the precise sum for which the real estate mentioned in
the deed of McMakin and wife, should be decreed to be sold,
can be ascertained satisfactorily, it appears to me necessary,
there should be a decree to account. The calculation may be
rather a complicated one, or at all events, there would without
an account, be some difficulty in fixing upon the precise sum,
by the payment of which, the defendants might prevent a sale
of the property.
The case is essentially different from that of David et al. vs.
Grahame, 2 Har. & Gill, 94, where the court dispensed with a
preliminary account, because the answer admitted distinctly the
claim as stated in the bill, and claimed no credits, other than
those which the bill set forth.
It is not now meant to be decided, whether if it shall appear

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Reports of Cases in the High Court of Chancery of Maryland 1846-1854
Volume 200, Volume 2, Page 416   View pdf image (33K)
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