New York Court of Appeals
Parish v. . Wheeler.
December 5, 186022 N.Y. 494
Summary
The Court of Appeals affirmed the Supreme Court's order granting a new trial, holding that the canal boats were not within the mortgage description, that a railroad corporation may validly acquire title to such boats despite ultra vires limitations, and that the mortgagee's damages in a conversion action are limited to the unpaid mortgage debt. The Court also held that the mortgage was not void under the statute of 1 R.S. §4 and that the trustees acted as bailees with only liability for actual damages.