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Reports of Cases in the High Court of Chancery of Maryland 1846-1854
Volume 200, Volume 2, Page 497   View pdf image (33K)
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CONKLING VS. WASHINGTON UNIVERSITY. 497
should issue upon this certificate, and I shall, therefore, rule the
caveat good, but as the question is a new one, and doubts may
be fairly entertained in regard to it, I will not subject the party
. to costs.
ROBERT J. BRENT, for the Caveator.
GEORGE G. BRENT,
Jos. H. BRADLEY, for the Caveatee.
NICH. BREWER or JNO.
WILLIAM H. CONKLING ET AL.
THE WASHINGTON UNIVERSITY
OF MARYLAND MARCH TERM, 1849.
AND
EDWARD GREEN.
[CONSTRUCTION OF DEEDS—POWER OF THIS COURT TO GIVE RELIEF WHERE A
TRUST CANNOT BE EXECUTED ACCORDING TO ITS PROVISIONS——PARTNERSHIP.]
The Washington Medical College of Baltimore executed on the 24th of July,
1835, a deed of trust conveying to certain trustees therein named, upon the
trusts therein expressed, a leasehold interest in a lot of ground, in the city of
Baltimore. The deed recites, "that towards erecting a building on said lot,
the sum of (50,000 has been agreed to be contributed by various persons,
who are to be identified by being the owners of certificates therein described,
and that said college has agreed with said persons to secure the reimburse-
ment of their respective contributions, and the payment of the dividends
arising thereon, in the manner therein pointed out." The form of the certi-
ficates is then prescribed, each being for the sum "of $60 part of said
$50,000, to be entitled to a dividend proportioned to its amount when the
same shall arise, payable semi-annually by the treasurer, for the time being,
of the college; said sum to be accepted by the party to whom the certifi-
cate is issued, or his assigns, in discharge, to that extent, of said deed, and
of .his claim to the property thereby conveyed, when tendered at anytime
after the 4th of July, 1845,by the grantors, or their assigns." The trusts are,
1st. That the grantor shall occupy and use the property, and receive the
rents and profits thereof until sold and disposed of as is therein provided.
Bnd. That if the dividends on said certificates shall be in arrear, and unpaid
for one year from the date thereof, then it shall be lawful for the grantees
to sell the property, and out of the proceeds, pay and reimburse the owners
of said certificates the full amount of the principal moneys mentioned in
43*

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Reports of Cases in the High Court of Chancery of Maryland 1846-1854
Volume 200, Volume 2, Page 497   View pdf image (33K)
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