Independent Brewing Co. v. Colonial Trust Co.

Citations

• 273 Pa. 12
• 116 A. 518
• 1922 Pa. LEXIS 504

Syllabus

<p>Mandamus — Jurisdiction—Necessity—Corporations—Corporate mortgage — Trustee—Contracts—Equity—Acts of June 16, 1886, section 18, P. L. 781, and March 28,1877, P. L. 82.</p> <p>1. A court of equity has exclusive supervision and control of trustees in the management or administration of their trust, under the Acts of June 16, 1836, section 13, P. L. 784, and March 23, 1877, P. L. 32.</p> <p>2. Duties imposed upon a corporation not by virtue of express law or the conditions of its charter, but arising out of contract relations will not be enforced by mandamus.</p> <p>3. Mandamus issues only in cases of necessity; where there is a doubt as to its necessity or propriety it will not go.</p> <p>4. Mandamus will not lie by a corporation, which has issued bonds under a mortgage, to compel another corporation which is the trustee named in the mortgage, to purchase certain bonds with moneys in the sinking fund.</p>