Karn & Hickson v. Rorer Iron Co.

Citations

• 86 Va. 754
• 11 S.E. 431
• 1890 Va. LEXIS 41

Syllabus

<p>3. Receiver—Certificates.—A court of equity may appoint a receiver for corporate property under its charge as a fund to pay incumbrances, and to authorize him to issue certificates to raise money upon (necessary to manage and preserve) the property, and to make same first liens thereon.</p> <p>2. Idem—Compensation.—Where the master reports a compensation for receiver as fair and reasonable, and same is sustained by competent evidence, this court will not interfere.</p> <p>3. Sale Decreed— (¿rounds for annulling.—Where no objection was made below to decree of sale before liens were ascertained, such exception cannot be made here. Where sale is confirmed without objection, it is presumable the property brought its full value. Where sale is made under a decree, it is not necessary that it should be advertised as directed in the trust deed. Where sale is decreed in a creditor’s suit, it matters not that the creditor who brought the suit has parted with his interest before the decree, as all the creditors are deemed plaintiffs. After sale is confirmed, it will not he set aside, except for fraud, mistake or surprise, or like causes.</p> <p>4. Condemnation op Land—Payment of price.—Where necessary for the company’s purposes, it ivas not error for the court below to condemn the reversion of land where it owned the life estate, and to use part of the proceeds of the certificates to pay therefor; and if not necessary, it was too late to raise the objection here for the first time.</p> <p>5. Petition to Rehear—Res judicata.—Notwithstanding the rejection of a previous irregular and defective petition for a rehearing, it was error in the court below to reject a regular and sufficient petition filed for the same purpose, and setting forth that an abatement of the vendor’s lien should he made to the extent of the failure of title to part of the land growing out of a decision of this court in another suit, the rejection of the former petition not rendering the matter res judicat